It's all about the cams...they switched to MUCH milder cams to meet emisions. Retro fitting earlier cams (and re-jeting) would correct the problem.
Does anyone have any dyno data to confirm the 240 number on a stock '73-'77 US version? My intuition is that the 240 number (which was established in 1973 at US introduction and just repeated in the documentation thru 1977) is a little optimistic (i.e., from a time when manufacturer's went with the "gross" number and even inflated that a bit when necessary ); whereas, the 205 number is a more truthful (net) number for the '78/'79 -- just asking...
Interesting. From the driver's perspective I would think these things are relative. That is, when you're motoring down the road in your Ferrari, all is well whether it's happening with 205 hp available or something a bit more. I know from Alfa experience that engine power is only one element in the greater thrill of it all. In these days of increasing regulation, perhaps a cleaner-running engine would be a worthwhile trade-off as a long term consideration. Thoughts?
There is quite a noticable difference between a 77 and 78, 79. Also the earler cars actually run better due to less emmisions screwing up the cam timing.