I'm sure there are many others on here who can explain it better, but on a 2 stroke the power curve is partially determined by the exhaust port height. A high port allows high horsepower at high rpm's, but sacrifices low rpm hp/torque. A low port height provides the exact opposite. So until variable exhaust or powervalves came along, manufacturers had to settle for a happy medium, or have a very "pipey" high powered engine, which had a very narrow power band, which is hard to clutch for. Think of an old motocross bike, you could really feel when it "came on the pipe". The power valves allow for both worlds, as they are closed at lower rpm, then open up at higher rpms, allowing the engine to act as if it had high port timing (which it now does with the valves open, exposing the upper portion of the port).
Hope this makes sense.
SRXer