my LS430: ECT power button: when it is switched to "power", the transmission chooses the best shift point with the most HP and torque depending on how much gas you are giving it. with "power" selected, the transmission will also downshift sooner than it would in normal when giving it more gas, for passing and the like. most people think all this switch does is make it shift at a higher RPM. the tranny will shift at a higher RPM with it in "power" but a better explaination is stated above. this is supposed to give a more "sporty" driving experience. however, it doesn't matter if this switch is "normal" or "power" when giving full throttle. your tranny should always shift right around 6k RPMs.
skperformance: actually, it states in my 94 owners manual that the sounds that can be heard when traction control is operating are the rear brakes being applied. the throttle stays the same but the rear brakes control wheel spin. how do you think its possible for your car to still be go with one wheel on ice and the other on road. if traction contol decreased throttle this wouldn't be possible.