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Alright, I've decided to run the updated numbers on High Horsepower. Since it's now a 110 power charge move, I've decided to compare it to Outrage (~62 DPE*DPS) Also really fucking hope it isn't a 1-bar charge move that makes Poltergeist look like the greatest signature move ever. I think that will completely kill my newfound interest in this game.. While the damage output is more modest, it will still be the top ground-type DPS until Shadow Groudon comes out, which makes sense given Shadow Groudon and Shadow Kyogre will be on the chopping block in the near future. (High2 is the previously theorized 70 DPE*DPS standard).
TL;DR
If High Horsepower is a 2-bar charge move, the normal form will be an okay ground-type attacker in raids, and the shadow variant will be the top ground-type DPS in many cases, but probably not for long.