Flashy,
There are several concepts that you are missing here.
First off the reason that current saws are limited in performance is not because of the engineers. It is a direct result of the EPA. They want you running extremely hot ehaust temps and very low oil mixture to ensure there are no unburned hydrocarbons being emitted from the saw into the atmosphere. The way to do this is by restricting the exhaust. This also lowers your HP, and makes the engine extremely vulnerable to dirty filters, improper mixed fuel, or faulty carbs. Any thing that causes the least little increase in heat will destroy the piston and cylinder.
I would admit to you if I believed that doing modifications would decrease the life of a saw. I assure you it only lengthens its life. Here I am speaking of the woods port typical modification and not racing applications.
The other concept you are missing is getting extremely more power from a lighter saw. Although impossible, imagine that you could obtain the same power that an 066 has in the small compact package of an 026. You could work longer with less fatigue at the end of the day. While you can not get that kind of result from an 026, you can significantly modify that engine so that it could run with the stock 036's. And modify the 036 so that it will run with the stock 460's.
Getting more power and cooler operating temps is what the muffler modification is all about.
With Great Esteem,
Scott