1) i hate you guys
2) the torque vs power thing simple, and it drives me nuts how badly people misunderstand it. to say that power affects top speed, and torque affects acceleration is stupid (sorry to say, but it's true). torque measures how much push is generated by each firing of the cylinders. power is obtained by multiplying the torque by the rotational velocity (revs), basically adding up all the little pushes into a big push. so, as the OP stated, a high torque, low rev engine and a low torque, high rev engine will perform identically (assuming they are geared properly). the thing to note is that if you are caught out in the wrong gear with high rev 4 banger, then you will have low torque AND low power, and get left in the dust. a big V8 wont suffer that weakness. so if there is a single quality of torque that makes it desireable in a car, it's the ability to accelerate from anywhere in the revs, not just in the top end.
3) downforce. meh. afaik, any negative lift is downforce, even if it is less than 100%.
4) did i mention that i hate you guys?