a lesson in aerodynamics
Just some thoughts on why your turbo may be able to pass more air at 32# boost than it can at 40#, thereby being more efficient: I'm going to base my info on hydraulics, which I know a little something about, but I'd imagine that it would translate to aerodynamics fairly well. When you create too much pressure through a hose, you create a couple of problems: 1) friction is created, which equals heat. If EGT's are a problem, that kind of friction certainly won't help the problem, but exacerbate it. If you ever get a chance, walk up and touch a firehose that has been flowing a high pressure of water through it for a long time. You'd be surprised at how hot it will be! 2) friction causes a Correolis Effect, meaning that the air will not flow in a straight line, but rather circle around causing an eddy effect along the sides of the hose it flows through, greatly reducing the amount of air flowing through it at high pressure. There are ways to reduce this problem involving various pipes to straighten the airflow, but I doubt if anyone makes them for this application (do I smell a business opportunity here?). Put those two things together, and it seems to me that running too much boost through your turbo may be a bad idea.
Every cylinder has a maximum pressure and volume that can easily pass through them before these problems arise. That is why the guys running the turbos with bigger inlets get more bang at lower boost. The problem here is that it takes a while for them to build up boost (read dreaded turbo lag). I guess that the only way to have it all is to run really freaking huge injectors, a 1/2" fuel line, two turbos in sequence, and maybe some propane thrown in for good measure. Just don't forget to shell out the extra cash to get some really cool flames painted on the side of your truck!
I hope this info is not only correct, but helps. Like I said, my knowledge comes from a rudimentary knowledge of hydraulics. Maybe we can get a phycisist in here to give us a hand.