Yes, I think the conclusion is: Don't touch it.
We could put it even simpler.
The main equation of a set waypoint's speed vs. the "VmaxH" value, which is used to form the base throttle setting, is wrong in IL-2's code already:
float speedByVmaxH = this.AP.way.curr().Speed / this.VmaxH
The idea is clear: The closer the desired waypoint's speed is to a plane's Vmax, the higher the initial throttle setting shall be.
That much, that good, but:
"this.AP.way.curr().Speed" is IAS.
"this.VmaxH" is TAS.
And to make matters worse, VmaxH is just Vmax at "HofVmax".
On the deck, the maximum speed would simply be "Vmax".
So in order to follow the game's intention, but to do it right, we would have to create the fraction of current altitude vs. "HofVmax", interpolate between "Vmax" and "VmaxH" according to that fraction, then convert the result from TAS to IAS, and
then calculate the equation compared to the current waypoint's speed.
Easy fix, but again: It would alter the speed of all flights on a mission.
And that, I'm afraid, kills all existing missions where the mission builder spent hours to counter the wrong ingame calculation manually before.
Mike