Its been all over the net on what they have or said to have or what have you, still debated on some threads Ive seen lol. Confirmed:
Yamaha rates the 700 Raptor engine as 46.9hp @ the crank.
Ive dynoed a near stock 700 (baffle pulled and lid off) that went 45rwhp on slicks.
Many other dynos across the world has dynoed near 40 on stock ones as well.
Yamaha rates the motor out put in Kilowatts at the crank it has the specs under the seat on a sticker if I remember corretly or it might of been in the owners manual. Damit my memory is fading quickly. Anyway when you find it you can convert that to horse power from here, http://www.mr2ownersclub.com/converter.htm
But like it was said before it is only a mathimatical rating and not the actual rating yours may or may not be.