Indeed, I am a guy. lol. And yes I have a very intense attention to detail. I'm the one who wrote up an analysis chart for what value I need to run Turbo at back in 2010 when I first joined the forum and got LB2 up and running:
http://simhq.com/forum/ubbthreads.php/topics/3045081/Constant_Blade_Stalls_dgvoodoo.html#Post3045081
So thanks for noticing Flyboy!

And thanks Recluse, using Turbo on my system I have been able to mitigate the CPU too fast problems and don't have rotor stalls anymore (or low rotor RPM), nor do I have super engines or HE rocket aiming problems. But this is different then being a CPU too fast problem, and I am not inclined to believe it is a too fast problem since all the other too fast issues are not bothering my game. It's more like an incorrect throttle assignment to the keyboard and joystick or exagerated altitude effect (or even more accurate effect actually), from what the game was like years ago when I played on my old system.

So here is the low-down on the top-end torque limits. I also don't have a lot of memories of their being altitude affects to over-torque limits from back in the win98 days. But sure enough now when I climb to my max altitude on any map, my over-torque value is reduced. It gets down to about 110% when I am at the highest points over the highest terrain. As for realism it makes perfect sense since at lower elevations the air is denser and the rotor lift greater for a given collective, thus the engines work harder at a given angle of attack of the rotor blades. I seriously wonder if my Anthology version of LB2 (it's version 2.09F btw) has some differences then what everyone else is using. I know the patch only brings you to version 2.09E. Would love to see someone else confirm this.

Anyway, I use my Saitek Cyborg X to control throttle and I am very careful about calibration and deadzones both in the joystick control panel and in the [alt]-[o] options menu in-game. So I am certain I am maxing the throttle and not being handicapped by settings. As far as having to re-map or recalibrate the joystick controls before playing LB2, that is a negative, Sir. The cool thing about this joystick on my system is that the profiler software automatically calibrates and then auto-loads your key-mapping profile even if you unplug and re-plug the USB mid-game. I've had to do that at times when for some reason the buttons get glitchy and stick.

I do remember going above 121% while on one engine (even as high as 124%) in the old days -- just as you said -- but I also remember being able to easily go to 121% too and that is something that I cannot do at all now. And here is something else that makes me think it is a slight bug. I uninstalled my joystick entirely to insure that the drivers were not messing up any of the throttle limits. When I played the game on "keyboard only" I made a shocking discovery. The keyboard number buttons are for quickly setting engine torque values; [1] = 10%, [2] = 20%, ... [9] = 90%, and so on and so forth with [0] = 100% (as stated in the manual). Well when I push the keyboard throttle numbers on my system here is what I get: [1] = 11%, [2] = 23%, [3] = 34%, [4] = 45%, [5] = 57%, ... [9] = 105% [0] = 117%. It is supposed to be that hitting [0] gets you to 100% and you have to manually adjust higher using [+] key to go into over-torque. But in this case the over-torque amount has been averaged into the entire number range, since as you can see that each increment is about 1.7% over what it should be, thus adding 17% to the total and getting me to 117% when I hit [0].

One might be tempted to say 'Who cares, it is only 4% difference from 121%?!' but I tested this on the lower elevation maps. When in the High Azer maps my max is only 113%, and that is a big enough difference to matter.

I'll let you know about the one engine test. And yes plunging downhill into a valley FARP after ripple launching hellfires and trying to escape a Mig-29, I've reached those high speeds and had Betty tell me 'main rotor is damaged sir.' And if you listen closely the rotor sound changes to reflect the rotor damage -- just awesome!