I would check the valve clearance. The clearance closes up as the engine heats up, and if it is set too close, the valves may not seat as well, causing a loss of compression and thus power. The engine may become difficult to start when hot, and seem to lose power, both of which can be caused by adjustment that is too close.
FWIW, the piston is supposed to be at 1/4" past TDC when setting clearance, from what I have gleaned.
tom