That's not quite what I'm saying. Let's use an example. A stock turbo Kappa was placed on a dyno and power was measured at 215 hp. That's a loss of 45 hp from the advertised 260 hp; a 17% total loss.
Now put some tune (w/ the same redline speed), a nice freer-flowing exhaust, and maybe even run E85. Put it back on the dyno with the same atmospheric conditions and measured power was 247 hp. A nice bump of 32 hp.
In this case, the 32 hp bump also happens on the flywheel, thus putting the power measured at flywheel at 292 hp.
What I don't agree on is people using the 17% figure to calculate the power measured at flywheel; which would give a higher number, e.g. 247/(1-0.17)~298 hp. A 6-hp (298-292) discrepancy. A 6-hp discrepancy may seem small but at higher power levels (and higher loss percentage which is usually 20%), that discrepancy can run 30-50 hp.
Now, I'm not talking about producing so much more power/torque that the drivetrain is stressed to the point that deformation starts to affect tolerances, bending/twisting shafts/gears and increase loss. You put 600hp in front of the stock solstice drivetrain, well, it's a different ball game.
Back to the topic, that explains the difference in measured power at the wheels between a turbo Kappa and a Cobalt/HHR SS; considering all else being equal (that the intercoolers have the same efficiency, piping too, air intakes are equally efficient, etc.) and the only difference is the drivetrain configuration.