You can't judge a cars top speed by its horsepower alone. Like you said, leaving body weight (doesn't effect top speed much) and aerodynamics out is just part of it. There are other things to consider such as gear ratios (transmission and final drive) which I think would play an equally large role and little things such as roll resistance.
I had a Camaro SS a few years back that had over 330hp, but couldn't go 170 mph...
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2002 Boxster S 6 Speed (Ocean Blue/Savannah)
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1998 Bouvier (Brindle)
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