A properly set up dyno can compensate for the torque multiplication from the gearbox. Having watched it happen before I know it can be done. Pulls were done in first, third, and forth. All were within a couple of ft-lbs of each other.
Then again, a dyno is only as good as its operator and calibration/software. It is only a tool that is really only usable if you use the same one under the same conditions and set up every time.
Wasn't my point.
The point is torque alone is a useless measurement.
Power is what is important and some could argue the power curve. For some reason many seem to relate a high torque number to mean a good power curve. This isn't necessarily true.
I often see people say "torque gets you moving and horsepower keeps you moving" and that makes no sense either. Low rpm horsepower gets you moving. Torque alone does nothing.
All you ever need is a horsepower chart showing the power curve.
I'm probably preaching to the choir but I'll keep going a little more.
Stating a torque number is like stating a current without a voltage or a time. Current alone is useless. Voltage and current are somewhat useful but still useless without time to know how much power is consumed.