AJ:
I've got two concerns about what you've asserted in your post. First, you appear to have missed the critical footnote on the Toyota site (see the little "3" inside the brackets), which reads, "Rating achieved using regular fuel" (referring, of course, to the "reduced" hp listing). The rating for the 3.3L V-6, found only in the Camry SE model, is also similarly "reduced." As a former vvt-i V-6 Camry owner (mine was a "2003.5", with the 210 hp rating) who carefully read his owner's manual, I am well aware that the 1MZ-FE V-6 is one of those engines that's set up so that it can acceptably get by on 87 octane, but because of its ECU programming, its output is increased using premium fuel. The manual says something to the effect of, "use of 87 octane fuel is permitted, but 91 octane or above is recommended for optimum performance". From my own experience experimenting with different fuel choices in that engine, the lower rating can be explained simply by the fuel choice. A 1MZ on regular feels like it has a bath towel in its intake after you've driven one with premium in the tank.
Second, you paint with too broad a brush. Infiniti (Nissan), obviously another "Asian" make, has actually increased hp ratings on some cars. For example, my G35 sedan advertised 260hp/260ft-lb for the 3.5L VQ V-6. For this year, they're advertising 280 or 298 hp (AT/MT respectively) and 270 or 260 ft-lb (same) for the 2006 VQ in the G sedan. Plainly, these Asians aren't backing down from their hp assertions. I hope your post does not reflect a per se distaste for things "asian". . .