I live out east of Colorado Springs... 6700ft+ elevation. I have about 11.43 psi of atmosoheric pressure normally. (Sea level is 14.7) That means when I see 27psi on my gauge, It's actually more comparable to about 23.5-24psi (sea level).
Turbocharged vehicles normally don't take as much of a hit because if you look at the overall manifold pressure available- dropping 3.5psi off of a motor that is very possibly seeing 35-40psi overall doesn't hit it as hard as something that is n/a where that drop in pressure is a much larger percentage.
Like stingpuller said lag is worse too.
You end up working the crap out of your turbo trying to move the same amounts of air. I built a fairly aggressive tune for my truck, and have more fuel than I can use... after playing with vane positions for quite some time I still don't see more than about 27-28psi. I could get more out of it.. especially at lower rpms, but high torque will just break my trans that much faster.