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Just from a physics standpoint, there is no difference in the power that could be delivered from the two engine types if the displacements were the same, fuel and exhaust systems (including valves, porting, etc.) were comparable, etc.
In theory, a V-twin could have a lower center of gravity, but that's not a guarantee that a finished design would, necessarily; and it doesn't relate to power.
Now, from a practical standpoint, I once read that it's easier to design a vertical parallel twin to handle sustained power from a cooling standpoint than it is for a v-twin, because the back cylinder of the vee won't receive as good air flow and must therefore be babied a bit...but I don't really know if the fellow knew what he was talking about, and in the coming era of all-liquid-cooled engines, it won't be a factor anyway.
As for drive methods, I agree with Sponger that Harleys' belt drive is very nice, and that one of the big reasons chains are still around is that they are cheaper than the other two methods.
Chains are also a lot less massive than shafts for a given power handling capability, and are less subject to certain kinds of physical damage than belts. Plus, modern construction techniques make chains sturdier and lower maintenance than they were in the "olden days."
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John
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