FWIW, I went to Mastro Subaru (DynoPack) for a dyno run this morning. 137.48 HP(~@4900rpm) and 148 lb-ft(~@4200rpm). This are labeled as "Corrected HP SAE" and "Torque Flywheel".
Mods and Status
98 RS w/ 158K miles, Fresh headgaskets @~156K (July/Aug 04)
Exedy LW Flywheel + ACT Street clutch
Original Catalytic Converter (158K miles)
Minnam Intake + Kartboy MAF adapter + K&N
Borla 4g Headers + Jet Hot Sterling
Stromung SS 2.25" Mid-pipe + SS 2.25" dual tip Muffler