That is among my favorite light aircraft engines. Nothing particularly high tech about it, just a parallel valve Lycoming made from great quality parts. They have good power to weight, are amazingly efficient in fuel injected form, easy to maintain and as reliable as anything else out there.
For those who don't know, this is the exact engine you want when you land your beastly bush plane on the dry river bed and it's time to go. It will get you up, and over the nearby mountains every single time.
Prior to retirement I got to fly a 9.5L Extra NG with a larger cousin of that 540 engine. The AEIO 580 (9.5L) . 320HP, angle valve, roller cam monster. Impressive engine for sure. But it has known oil temp issues that are difficult to tame and limiting on hot days. As throttling back is the only real answer, unless you go with larger oil coolers. (often not an option for certified aircraft)
Anyway, the 580 is one super smooth engine. Gobs of power right where it is needed. The opposed piston design ensures it is smooth.
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