I have updated the following with some more specific information, mainly due to some questions raised here on the M20M power output and on what MAP is required for takeoff.
TL;DR
The TIO-540-AF1A/B is making more power than most people realize; the AF1B is NOT a detuned version of the TIO540, it is turbo-boosted up-tuned version (per Lycoming).
The MAX MAP of 38” is the high-limit on the density controller, normal Full Throttle takeoff MAP should be 35-36” if the densit