You are right about the turbos, they are indeed great; I had one in my 4 cylinder 2.2 '86 Chrysler Laser, and it would fly down the autobahns in Germany at well over 150 mph.
But, I had to get out of the way of the big Beemers and Mercedes which had V8s. Or the occasional Ferrari or Jaguar with 12 or 16 cylinder engines.
It was eerie to be passing everyone like they were standing still, only to be passed at the same time like I was standing still! They have their place, that is for sure.

Turbos in trucks have limited application. They work best at higher RPMs - opposite of what trucks work at. When grunt stump pulling power up a hill is needed, a turbo won't cut it.

The difference here is not just raw horsepower, but torque - which is why the physics of the 302 short stroke motor (and most of the European motors) won't match up to the low end power of the longer stroked 300. So, even though the two engines have very close displacement, they have very dissimilar performance characteristics.

You have made an excellent point about turbos, that's for sure, and they do a good job of reclaiming some of that otherwise wasted power out the tailpipe.