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Running on propane is like running on E85 - less energy per unit, which means lower power, everything else being equal. Some vehicles can take advantage of it - as the fuel is less volatile - the effective octane is higher, so you can add more timing or more boost. Regardless, MPG will be less, but the cost is less.
I've converted one vehicle to E85 and the costs didn't wash, largely due to a not-so-great margin on E855 down here.
You'll see some non-factory duel fuels (Diesel / Propane) that are capable of big power... But efficiency isn't an issue.
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