I copied this off MSN Auto for you AT guys. Enjoy 
"These early automatics had an inherent engineering deficiency: The mechanisms that shifted the transmission smoothly also reduced some of the vehicle's power. But advancements over the years in torque converters, planetary geartrains, hydraulic controls and electronics have made the automatic transmission's performance nearly equal to, and in some instances, better than the stick shift."
"These early automatics had an inherent engineering deficiency: The mechanisms that shifted the transmission smoothly also reduced some of the vehicle's power. But advancements over the years in torque converters, planetary geartrains, hydraulic controls and electronics have made the automatic transmission's performance nearly equal to, and in some instances, better than the stick shift."
