The very early 550s ran high CHTs and stepped cylinders....expensive, cause you REPLACE a stepped cylinder. Continental fixed that, and they won't admit there was ever a problem.
I've run 520s extensively on both 185 and 206, floats, wheels and skis. On floats, a 520 powered 206 is doggy, gross weight is 3600. I ran a 550F powered 206 with the Wipaire engine conversion and Wip floats. It got going almost as short as a good 185, at 3800 pounds all up!! That thing came out of lakes I'd spent years working with a strong 185 and never broke a sweat.
In cruise the 550 LOVES running lean of peak. I ran that 206 at 2350 and 22 to 23 inches at 13.2 gph all day. At that power setting and LOP, CHTs all stayed in the 330 to 340 range (with balanced injectors, which are MANDATORY on all big Continentals, in my opinion).
In short, the 550 is the engine the 520 always wanted to be. Go there, you'll never look back.
As noted earlier, the 550 is rated at 300 hp continuos at 2700 rpm. The 520 is rated at 300 hp for five minutes, at 2850 rpm. Ugly noisy there, if that matters to you.
The reason the 550 feels stronger is the rating scheme that Continental used. The 520 was rated under the old rating scheme, which required the engine to produce 300 hp, plus or minus 5%. So, your brand new IO 520 could make 285 hp at max and be legal. So, during production, Continental built a ~300 hp engine. If one ran a little light, no big deal.
Then, Continental switched to the same rating scheme that Lycoming has used for years: rated horsepower, plus 5%/minus 0%. So, EVERY 550 has to make at least 300 hp. So, Continental basically builds a 310 (or so) engine, to ensure every one makes at least 300 hp.
As noted by bush buggy, however, propellers are what make thrust. Put a lousy prop on a powerhouse engine and you've still got a dog. Put the perfect prop on a sorta weak engine, and....
I flew a 1980 182 converted to the IO 550 yesterday, and wow!!! These engines are also smooooooth.
Go with the 550, you won't be disappointed. And, the N model is even more magical, BTW.