Yes old standard was deceptive as they able to allow engines coming off the assembly to as little as 85% of the rating label so an engine rated at 4 hp could be as little as 3.4 hp at right the initial start up. Now the new standard is 95% forces them to have tighter specs coming off the assembly as they randomly test engines now to make they meet the specs.
Also as Greg point out the gross hp was before options were added which lower hp even more down to a net hp rating. Even the ft-lb torque is a little deceptive as it doesn't cover the worst case loads but at least gives you the expected power band rating.
