what u've said is correct...
Power (kw or hp) is the amount of energy produced. the more energy produced the more work u can do, ie. accelerate a car, produce electricity. Torque is purely a twisting force that is produced.
Torque is what accelerates the car, but its not the torque produced at the engine, its the torque produced at the wheels. So u need to take gear ratio into consideration (torque multiplier effect)... u can have a car reving higher producing same hp but less torque and still produce identical (peak) torque at the wheels. But the power delivery will be different.
Because acceleration requires increase in rpm, u must consider the power/torque produced throughout the rpm range where ur acceleration taking place. taking weight out of the equation, if u maped out the torque produced at the wheels for the rpms the acceleration is taking place, the greater area under the graph, the greater the acceleration.
about what TRD said, BT's power dont drop off as quickly as ST's after 8000rpms... basically it means that if both cars are making the same power and torque (say peak hp at 7500)...and u were to have a drag race... there'd wont be much difference as ur not gonna be reving it to there. however if u have to stretch a gear for consecutive corners on a race track, the difference would showup. Or in dorifto terms, u can make more smoke and hold it side ways for longer in a BT...lol..
hope this helps...