>Can the players RPM value be set differently to the AI's anywhere? Basically so the AI use one RPM and the player another.
Not that I know of; As far as I know, Player and AI use the same RPM limit.
>I see in the physics editor that power at max RPM can be set for the player only. If I lower this power, will the player be slower throughout the Rev range?
This question I'm not so sure about; I
think that the actual in-game BHP is controlled by the Performance files.
At some point this may not have been the case - for example, before GPxPatch read Player Power and Grip from the performance file - and this why, before, a the Player in a Minardi would be as fast in a straight line as a Ferrari.
Someone who has a bit more experience with the physics editor might be able to give you a clearer answer here though.
F1 Graphics Swapper ---
Lensdump - Renders and Screenshots ---
GP4 Performance Generator