I would like to know if a 320 lancair with  a
  Pen yan engine that has pistons, fuel injection, electronic ignition and all
   would perform much different than a 180hp 360.

Ron,

 

Yes, it would perform differently.  In some cases, the 320 in cruise and at the lower altitudes can do quite well against a 360.  But in climb and higher altitude performance, there is no replacement for displacement.  However, each specific set up can yield vastly different results.

 

What does Penn Yan do that's so special?  What compression ratio do the pistons provide? Whose electronic ignition?  How heavy is the airplane?  How much fuel does it carry?

 

I believe I am flying with about a 170 HP 320 (some think I have more), 9:1 CR, std fuel injection with an atomization assist, dual Light Speed EI, a Hartzell CS prop and a variety of minor airspeed enhancements. At low altitude I am only 4-5 MPH slower (Air Venture 500 mile cross country race) than my friend's "blueprinted" IO 360, 10:1 CR, MT CS prop, P-Mags, etc. I use less fuel. BUT, he really wipes me out in climb rate and speed at higher altitudes.

 

At this year's Lancair 100, I beat all 4 of the other 320 equipped aircraft and 6 of the 7 360s that ran the race.

 

On the flight leg from Casper WY to Redmond OR, I did not want to land for fuel so I flew at 12,500 MSL (13600 d-alt) running 20-30F LOP.  Over Boise ID: 152 KIAS, 186 KTAS, 189 Kts ground speed at 6.3 gph and 29 degrees BTDC timing.  That was at 19.8" MAP and 2500 RPM.

 

Maybe someone else can provide comparative data for a 320 or 360 as I might not be the best to compare against.