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I got 120 indicated on the dash out of my 1.4 16V, which according to the GPS was 108. Basically at that speed the road speed is limited in software by the ECU. Basically it still accelerates quite nicely at 110 indicated then just stops and doesn't go any faster down hill or slow on a shallow climb, so its not an aerodynamic vs thurst limitation.
Perhaps a superchip overcomes this? It probably would on the GTi too.