RE: What Does Underpowered Mean To You?
I agree with TLH101. It's in what you want to do with the plane.
With the Python example posted at the beginning, the 62 would fly it, and do it generally scale by managing energy. Unfortunately many fail to recoginze that a biplane uses up a lot of available power just in overcoming drag, which is where the 62 and a 37% Pitts would run into each other head to head. As the speed increases so does the amount of drag, sucking up even more power. After the drag issues are out of the way the engine has to have enough oomph to overcome weight and be able to climb. Aerobatics would be performed after the climb has been done and a shallow dive initiated to develop excess speed and energy to complete the maneuver. Connected maneuvers requiring any uplines would take some serious planning and energy management. Long vertical lines and giant loops would be out of the question with an engine that's marginal in size for the plane.
To fly it like the Tucker aircraft would require quite a bit more power though.