Moresby was saved by the Coral Sea battle and the Australians pushing the Japanese back, but the green pilots in the overwweight P-39s held their own.
Then in February came Guadalcanal and the famous P-400s (like a P-39D-1) who couldn't climb above 12000' because they had no oxygen as their British oxygen system was different than the Navy's and there was no time to wait. But all you hear is they couldn't climb above 12000'. No F4F Wildcat would outclimb any P-39 (with oxygen) at any altitude up to 25000', but you never hear that from the Navy/Marines, and Guadalcanal was largely their show.
Incorrect - Morseby was saved by P-40s from the US 49th FG and Australian 75th fighter squadron (and others). See the Battle of Milne Bay (August - September 1942) during which a Japanese invasion fleet was turned back by land based aircraft operating mostly from Pt. Moresby
Battle of Milne Bay - Wikipedia
The P-40 continued in use by the 49th FG until well into 1944. It also remained the main fighter in use by the 23rd, 51s and 80th FG's in the CBI, and was the fighter type with the most air to air victories for the RAAF in 1944 according to Pacific Victory roll.
On to North Africa in late '42 and a few squadrons of early P-39s and P-400s struggled along overweight as usual so their work was limited to mostly ground attack.
By now the (late '42) early P-38s were coming into combat finally and with all their inherent problems. The P-47 would be in combat in England in May. The AAFs turbocharged fighters were finally coming online and the P-39 (and P-40) would move into second line duty. Their only purpose was to hold the line until the turbocharged P-38 and P-47 could get into action. Except the P-39 could have dome much better all this time by just removing some items thus reducing their weight. Almost criminal to send those men into combat equipped that way.
Again, I can't say about your theoretical narrative - I suspect you may be right that some adjustments to the P-39 would have made them viable. But your historical narrative is all wrong. By late 1942 the US were operating no less than five full fighter groups of P-40s which were their front line fighters, whereas the P-38 was doing mostly long range escorts of heavy bombers (primarily B-24s) and the P-39, after one big day of combat, losing 12 fighters on 13 March 1943 (despite top cover by Spitfires). After this slaughter they were relegated to 'coastal patrol' well away from any German fighters.
Some pilot comments on the P-39 in North Africa:
"Jerry Collingsworth, who flew as a Lieutenant with US 31st FG in Tunisia:
"The P-39 [Airacobra] was a miserable fighter for Tunisia; we used to have to escort them because the Me 109 and Fw 190 outperformed them in every conceivable way; dive, climb, manoeuvre, speed - you name it!"
Wg.Cdr. M. G. F. Pedley, Wing Leader in 323 Wing in Tunisia:
"P-39 Airacobra . . . Its rate of climb was poor, armament inefficient and engine unreliable." (p. 424)
John L. Bradley of US 33rd FG:
"I flew a couple of escorts for P-39s during my tour. Many of the pilots on these aircraft were afraid of them and figured they didn't have a chance if they were jumped by enemy aircraft without top cover." (p. 404)
This comment about the P-39 pilots being afraid of them is partly what got me thinking about the difference between the Soviet and American experience with the plane.
But now in November/December '42 Allison has finally widened the V-1710 supercharger gears so they would take the 9.6 gears and the P-39N is coming out the door. The extra 100HP above critical altitude resulted in improved speed and great climb, the only planes that would climb with the N in early '43 were the Me109G and of course the SpitfireIX which would outclimb anything. The N would definitely outclimb the early Lightnings and Thunderbolts. But by now the P-39 (and P-40) were relegated to training and lend lease to the Soviets. The N and Q were the main types sent to the USSR in spring '43 and they were the same plane after removal of the wing guns and the IFF radios. Even lighter than the already well performing N the Airacobra went on to glory in the east. Oh well.
I agree once more about the potential performance of the P-39N, but the P-40 was not "relegated to training and lend lease to the Soviets." The P-40F/L was still the number one front line fighter in North Africa and Sicily / southern Italy through 1943 and was still a major part of the fighting force at Anzio in 1944.
In the CBI and Pacific again it remained in front line use through 1944. It was still dominating the Ki-43 through the end of it's service life there (much has been written on this subject).