Actually that was an excellent article. Very good research.
However, It misses two important parts of the equation. The first part of the equation is area under the curve. The second part is driveability. Both of these are more a function of torque than a function of horsepower.
Car engines don't have the luxury of always operating at peak horsepower. Like it or not, they are required to accelerate, slow down, stop, and otherwise work within a fixed set of 3 to 6 gears. Quite a number of real race car transmissions only have 2 gears.
The first part, area under the curve takes into account the ability of the motor to work within the gear set that it has. It will only be near peak horsepower for a few hundred RPM. Therefore it is vitally important how the engine behaves when it is not at peak horsepower. A big broad torque curve helps the car accelerate over its entire RPM range not just for the few feet that it is near its optimum.
Example: Autocrossing - I can come out of a fairly tight corner in third at around 2k rpm. At that point I can generate around 160ft lbs of torque at WOT (60hp). I can then accelerate so hard that I have to feather the throttle in order to keep the tires hooked up. (i.e. I am generating more rear wheel torque than the car can effectively use) I accelerate all the way to the next corner where I arrive still in 3rd at around 6k rpm and around 160ft lbs of torque (180hp). Along the way, I passed my peak horsepower at around 5500 rpm where I was generating almost 200 ft lbs of torque (209hp). With that big flat torque curve, I was able to accelerate almost as hard as my maximum all the way from 2k to 6k and didn't have to shift once.
This is closely related to driveability. I have driven a couple of cars that technically had a cubic shitload of horsepower between 7k and 8k rpm. But trying to get them rolling from a stop sign just sucked. Slip the clutch, kill the motor. Slip the clutch more, burn the clutch. Launch and let the tires take the abuse and get a ticket from the local cops. Take it to the track and it can be just as bad. Below the power band, the accelerator pedal is nothing more than a wish list. In the peak power band you are fine until you have to use the throttle with finesse, then it behaves like an on/off switch. Too much, oops throttle oversteer, too little, oops trailing oversteer. "Dang that thing sure is twitchy!"
So, to answer your article: Yes, you are absolutely correct.
Horsepower rules.
But, As a single tuning goal it only pays off at drag strips, Bonneville, and some long road races. However, most tracks, all autocross, and all street driving, it is far more important to have an engine that has a broad flat torque curve that is easy to manage. This lets you power out of a tight corner near the bottom of your rpm range, blast down the straight to the next corner, dive in and do it again. Now that's what I call fun! http://www.usa7s.com/aspnetforum/images/emoticons/coolgleamA.gif
Brent