These engines produce a lot of heat. On track even with an oil cooler I can hit 280F if pushing hard for several laps on a fast track. We're not the only cars without coolers, Corvette's (non Z06) models have a similar issue and can push oil temps to 320F and coolant temps to 260F.
I don't really notice a power loss until 280F when the ECU intervenes. Prior to that there is a slight loss of throttle response and perhaps a very slight loss of power as the ECU adjusts the timing.
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