Geoff, I know you already know this, but horsepower isn't what makes you feel like are you going fast (acceleration), torque is. Horsepower just makes you get a higher top speed. So, if you are looking at the sensation of being pulled back hard, arm stretcher, wheelin' type of feeling, then you want a light bike with high torque. Weight is key for both torque and hp. Ideally you want peak torque at the lowest RPM and have a flat torque curve.
Horsepower matters little unless it comes with torque (think of a little electric motor vs a water wheel in pulling things).
The Ninja 650R has around 41 ft-lb of torque @ 7000 rpm on the dyno(Parallel Twin); A SV650 has 47 @7000 rpm (V-Twin); and a V7 Moto Guzzi 750 makes 52 @ 2650rpm (transverse V-Twin). It may not seem like a big difference in peak torque (about 14% and 27% more vs the 650R), but the V-Twin torque comes on earlier than a parallel twin (closer) or inline-4 (further). And thus the reason you need to really whip up (7000-12000+ rpm) an inline-4 to really get the power out of it.
The parallel twin of the 650 Ninja is a nice torquey motor and would feel about stronger than say a Triumph Speed Four. And in fact, could beat a Ninja ZX-10R in a stop light GP as you have about the same torque as he does off the line and are a little ligher even though he has x2 torque and almost x3 hp. I've seen videos where a stock Harley-Davidson will beat a supersport bike (in a straight line) because of this and of course, the HD guy cleans up the bets.
And for the 150+ hp litre bikes... Notice the Ducati 1198, it's an L-Twin vs the other two inline-4's (last chart). If you ride everyday around 4-5000rpm, the Ducati will feel much stronger of a bike than the other two because of where the torque comes in (low rpm). With the BMW and Kawasaki you would have to ride at 11-12,000 RPM to get the peak torque and by then (in 1st gear!) you are most likely going illegal speeds (75mph+). And I know very few riders who scream around in 1st gear @12000+ rpm on the road. HAHA.
But really, there is only so fast you can go on public streets anyways and all bikes today (inc any 250cc) can break those speeds so hp is even more useless in the end.
To sum up:
If you ride at everyday riding (up to 5500 rpm), then you want a bike that will have peak torque below and in that range. It's one of the big reasons I like the Moto Guzzi so much. It's big bike torque in that rpm range but weights in at under 400lbs. In the end, no graph will give that you seat of the pants feeling so it's best to just try them all you are interested in!
Oh man, I can't believe I just spent over an hour editing this one post up.

Well, at least it's a useful post!
WARNING: DYNOS are quite unreliable as numbers can change even day-to-day or run-to-run. So it's best to use the manufacturers quoted numbers.
If you look at the Ducati on this chart you will see why just quoting a peak number is not as meaningful as seeing the whole torque curve. While it is true to say peak torque is at 7900 rpm, a whole lot of it actually comes on at 3,500! That's quite a different kettle of fish right there in seat of the pants feeling.
By understanding how to read a dyno chart you can inturperate that to seat of the pants feeling of what a bike is like. Remember, you want peak torque at low rpms and a light bike to get that very, very additive feeling of power, speed and acceleration without the needsto scream the engine or go way past legal speeds to get it.
Not only that once you understand this simple concept it will put your understanding of the motorcycle engine light years ahead of your peers but it will also make you a better rider too.
UPDATE:
Here are a couple of video examples to show how torque at a low RPM is more important than horsepower when it comes to power:
Analysis: What to look for - 1/4 mile 2011 R1 vs Ducati 1198 Panigale. If you just read the numbers alone, it's: Ducati: 10.54, R1: 10.6. And you would think, wow, both bikes are roughly the same.
It's true both bikes are high in horsepower and torque, (the Ducati has more torque, the R1 more horsepower) but the Ducati 1198's torque comes on much sooner than the R1's. Notice at the 6 sec mark it's over for the R1 already. At end end of the 1/4 mile as the R1 engine spins up to 15,000 rpm (@ 139mph) it then starts to catch up but still loses in the end. On any normal street the power of either would be less useable* but the Ducati 1198's would always take the R1 in any acceleration contest thanks to that low rpm torque.
*(unless you do 140mph on the road that is).
Analysis: What to look for - Harley vs sportbike drag race. Now this is the type of thing I was mentioning about in the above post and one that even I would guess wrong on the outcome years ago. The Harley is a Harley-Davidson V-Rod, the Sportbike (blury guess here) looks like a GSXR. Now the V-Rod has quite a disadvantage here you would think, much less horsepower and a lower revving motor. But again we see at the start it's over for the GSXR and like the R1 above, only starts to catch up at the end of the 1/4 mile.
Analysis: What to look for - Sportster vs R6 drag race. The data: 11.68 Sportster vs 11.6 for the R1. Start video at 17 sec. Like the above video but with smaller bikes. The Sportster is (I assume) is a 1200XL. The other a Yamaha R6. Again, the R6 has way more horsepower than the Sportster. In fact, I'm sure if you ever mentioned a sportster could beat an R6 you could get laughed at, but hey, bet them and take their money home. Again, low torque = more power than the R6's big horsepower advantage off the line and about 3/4 down the track. It isn't until they are going over 100mph that the R6 really catches up as it's engine is screaming into the 5 digit range and past legal speeds.
Now, there are a lot of videos out there that show different things and I tried to pick three that show a "slow" bike with low end torque vs a "fast" bike with highend horsepower (by slow and fast I am meaning how the typical rider interpurates horsepower data).
Mike
Reminder for me: I should add all this into the beginners guide when I have time as it's a much misunderstood concept by riders.
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