Joe:
For a bit more clarity - the snout is used for carb and vertical induction fuel injection. The smooth cowling is used for horizontal induction fuel injection.
I won't get into performance but will say this,: if you want carb, you get the snout. If you use a 200 HP IO-360 you get the smooth. If you choose a 180 HP IP-360, you get your choise of induction and the resulting cowling to accommodate it.
Jekyll