You've got to consider the pilots involved. By the time the D Mustang was available in quantity, the average 109 pilot was not as well trained or experienced as the average Mustanger, and was flying a more demanding and tricky machine than his predecessors had. You can't cram more horsepower and weight into a small, and already awkward handling airframe like the 109, without making it even more challenging to operate.
Now jump ahead to the 21st century. The airframes are old and tired (except the new builds), and any one with any sense of responsibility is going to handle them gingerly. Add to that everybody is going to be operating at reduced power settings. 100LL hasn't the antiknock qualities of WWII fighter fuels, although it's closer to what the Germans had than the allies. That said, nobody flying on today's fuel is going to go "through the gate" into WEP in a "friendly" mock dogfight.
Likewise, pilots aren't likely to aggressively explore the G limits of those valuable tired airframes.
So, since the 109s operated on generally less high performance fuels than the 51s back then, and a goodly number of today's 109s are new builds, perhaps they are operating at somewhat less of a handicap than in 1944-45.
Cheers,
Wes