YX vs Lifan 150: I've not ridden with a YX anything. But I've heard they are top end RPM power biased and I've ridden enough bikes over the years to have an idea on it.
Generally speaking, power output needs is all relative! Relative to: target track or terrain, track/terrain conditions (dry/mud/sand etc), bike handling/suspension, and of course rider skills.
With a pitbike with 14" wheels or smaller, and always questionable handling ability at high speeds, I think if you are riding on any typical off road terrain or typical dirt (MX) track, then an engine with more usable wide spread torque (and no sudden hit) is going to be a lot faster and a lot more fun. Even if you ride on BMX style tracks, an engine with more wide spread torque is going to be more fun.
Keep in mind that even the YX gear ratios have a useless/granny 1st gear. So we only have 3 usable gears. plus those these have wide ratio difference. So unless you want to change sprockets for every riding location or even a change of your private track layout, then this also means you want a wide spread of torque from your engine!
In my Lifan 150 (as mentioned earlier in this thread), I put the Akunar A1 cam (plus their valves and springs). These are very simple mods. Did it work? Well I HAD to put in 2 stiffer clutch springs because of the extra torque. It's a lot more fun. So I'd say yes times 2.
Riding my pitbike is a LOT of fun. For the cost, the little engine blows me away and makes me laugh inside my helmet. My big bike is very responsive and powerful, but my pitbike offers a great thrill of its own kind. The engine is always "there" for me. eg. I hardly ever stress my inside knee putting my foot down. I can move f/aft on the seat and use the throttle and ride out of most situations. Good tyres help. As does picking a sane speed for a corner. The bottom line to this engine, is that on most tracks and terrain, it's output far exceeds the ability of my chassis+suspension and me. I'm pretty anal about my suspension (dampers and springs), steering rake, rear sag and so on, so my SR is not a handling pig in pitbike terms, but the engine is more than enough to push things.
If however you ride on sand, then get all the top end HP you can get.