It seems I'm a little late to this particular party, but when we were talking about making an equal-displacement four-stroke match the power of a two-stroke, I know it can be done. For example, if you take Maico's claimed HP for their 500 (I'm using that number just because I have it memorized) the ratio of power to displacement is 134hp/L. But if you take a BMW S1000RR, that gives you 179 hp/L. Granted, that's a multi-cylinder engine so that's probably helping things out a bit for the Beamer.
But what we should remember is that the Beamer, even with multiple cylinders, has to rev way over 13 grand to make that kind of power, whilst the Maico is doing it at something like 8k. Also, brand loyalty aside, that's not exactly the craziest two-stroke available, it just happens to be a dirt bike that I knew the numbers for. Let's see what kind of power a four-cylinder two-stroke sport-bike motor would be like. Oh hey, looks like somebody (Suter Racing) have just that, and it's got 20hp more than the Beamer... and half the displacement.
Is it possible to make an ultimate four-stroke more powerful per unit displacement than a two-stroke? Does that mean it has more potential? Hell no. Now what I'd like is to see what would happen if you gave someone like Don Garlits 20 years to make the best top-fuel drag racing two-stroke he could. If the four-strokes are making 8,000hp now...