I think you are mistaken here. In most modern internal combustion engines the maximum HP/torque is somewhere leaner than the stoichiometric AFR of 14.7. If you go too far on the lean side you start to loose power. The other unpleasant side effects of running lean are detonation and heat. The more modern engines tend to run leaner and hotter which allows them to produce more HP and torque out of the same displacement. You have to use better materials and stronger components and better cooling system (compare LT1 to small block 350 - a good example). Th other unfortunate side effect of running lean is lots and lots of NOx emissions. Which is why most street-legal engines are essentially "detuned" to meet the emissions standards. When you go on the reach side of the AFR you end up with little to no NOx but CO and HC start to climb. Also your HP and torque starts going down. The leaner calibrations are considered more aggressive and the reacher calibrations are considered more conservative. When you tune an engine you typically start with a conservative, rich calibration and start working your way over to the lean, "aggressive" side gaining horsepower on your way. You keep monitoring the emissions and detonation (pinging). If the engine starts pinging - you have gone too far. It does not take long to destroy a pinging engine while tuning it on a dyno - don't ask me how I know
The optimal point in in a different spot for different engines, it varies quite a bit depending on how well it flows air, camshaft profile, etc.
IMHO one of the reasons why 4.0 GEMS motors fail more frequently is because they have a leaner and hotter "more aggressive" calibration to meet the emissions requirements. Not too lean to start making lots of NOx, but enough not to make tons of CO and HC. Unfortunately this calibration has proved itself to be too aggressive for the old Buick motor.
There is a great book by Sir Harry R. Ricardo called "The high-speed internal combustion engine", it explains everything extremely well. I consider it a timeless classic and highly recommend it.