[danimal]

I'm not saying displacement doesn't matter, just that turbocharged engines have gotten so good, you really can match the horsepower and beat the torque of an NA 3.0-liter with a 2.0-liter turbo. And with barely any sacrifice in drivability.

So, yes, all things being equal, more displacement will equal more performance (as long as you're not including fuel economy in that definition), but turbos make a pretty damn good substitute for some of the displacement, and you get more torque and potentially better fuel economy versus the larger engine.