I have some sympathy with Nick, that this a topic that never seems to get any further. Perhaps it's inevitable, even desirable, for new generations to fall under the spell of the little rot boxes.
You can't have HP without torque and gearing can match a high revving little engine against a bigger, torquey one with the same bhp. Though if they both have to sit on top of a 4 speed transmission (pinched from an even more ancient Austin and splashing about in engine oil) then having power you can access without reaching for another ratio is good. I like to think of a turbo in a Mini as a pneumatic overdrive as much as a route to too much power.