It does, when properly calibrated. Thats why spaceghost said that stock STIs put down 200 on the Buschur dyno (which is a mustang). His is dang close to true at the wheel hp numbers. A 298 hp car putting down 200 at the wheels through an all wheel drive drivetrain sounds like its right. I know of other Mustang dynos that would put stock STIs around 250. I do not believe that they are properly calibrated though.
Edit: I have seen people change settings on a dyno and show a 200hp car lay down over 400 for example.