Sorry if this is a bit old...
I'm not too sure about power, but the smog pump/equip. controls the mixture control valve. To my understanding, the mixture control valve leans things out at highway speeds... so, it gives better gas mileage... I recently replaced and reconnected mine... The around town mileage stayed the same (about 26mpg) but it now gets about 33mpg on the highway... I used to only get about 28-29... Hopefully that answers your q's
also, since the smog pump is connected to vac lines in some places, it might turn backwards if you remove the belt... I'm not an expert, but that could be a problem...
_________________ 1980 4X4 LUV daily driver, as stock as can be.
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