Going to have to give you guys a lesson on the time line of the engine in these trucks.
89-91 non-intercooled, VE pumped truck, conservative 160hp setting, 9mm injector nozzles.
91.5 intercooled, VE pump, 160hp, changed head to 7mm nozzles, 9mm heads had tendancy to crack around injector bore.
92-93, same as the 91.5 only they added a PCM to handle some of the functions like intake heater cycling, alternator regulator, etc...
94-95, new body style, intercooled, P-pump, added wastegated turbine housing, lockup converter for autos, 160hp auto and 175hp manual
96-97, changed auto trans to electronic control, upped hp to 180 for auto and 215 for manual.
98, early 98 trucks stand alone, its a transition year, they still use the 12 valve engine, but the dash, wiring harness and PCM have been updated. Using 12 valve 98 engine wiring harness and PCM it is possible to almost seemlessly install a 12 valve engine in place of a VP pumped 24 valve up to 2002.
98.5-02, 24 valve engine, VP44 electronic injection pump, 235hp in auto, 5 speed and early 6 speed (2000). 245hp in 6 speed (01 to 02).
03-07, 5.9L common rail 24 valve, wastegated turbo, this is where my knowledge starts to degrade, I don't know as much about these as the older ones I've worked on.
07.5 and up, 6.7 common rail 24 valve, variable vane turbo, I know even less about these.
As far as power out of a VE I will agree they will not move the fuel like a P-pump. However they are a capable injection pump and will easily make 350hp with plenty of torque with the right injectors and be very pleasent to drive. I would not call them simple, they are a bit more complex than a P-pump, there is alot going on inside one, there is a variable timing piston that advances the injection timing as rpm increases. The reason they start so quicly is they are at full fuel when at rest, thats why they start so quickly.