I don't get the loss of power.
When I tune a carb I always set the base mix and idle with a vacuum gage and tach. The premise is the higher the vacuum the more efficient the burn. Then a 1/8 turn lean on the idle jet. It should NOT hurt MPG.
From there its a matter of jetting it to the elevation. Little lower in the float bowl will lean it out some but again unless its REAL low on the float bowl to the point of ping it should not hurt performance.
Lastly is a properly working EGR system. EGR is used in conjunction with a lean fuel mix to prevent ping at steady cruise. When maintaining speed you do not need to the full potential of the engines power.
What happens it the fuel mix will go lean at at steady cruise to save fuel. When that happens cylinder temp rises as the mixture exceeds the ideal 14.7:1 air to fuel mixture. That improves economy BUT it can melt the cat, valves, piston and of course will start pinging to let you know these things are happening.
The EGR meters in some exhaust to remove Oxygen from the combustion chamber and gets the fuel mixture back to the ideal 14.7:1 and lower the combustion temp while actually using less fuel since the motor does not needs full power to maintain speed. As soon as the vacuum drops from acceleration or hitting a hill causing the RMP to drop the metering rods raise adding fuel and the EGR closes adding Oxygen.
Knowing this I can't understand the loss of power. The more efficient it runs the better the power. Did he retard the timing? That causes more time for the fuel to burn if its running rich. Under cruise conditions it would improve economy but hurt acceleration. Seems to me though to be a band-aid fix when making it a little more lean would fix the problem and allow the timing to be set so as not to loose acceleration performance.