Flingwing - I think Nick would certainly agree with you there.
Having watched the Spanish crash, low Nr certainly seems to be the pilots problem but whether it was due to a power loss or simply asking too much of the aircraft (hot, 3 pax, confined area needing HOGE performance) is impossible to tell.
If it was due to performance, he could have tried a vertical climb before transitioning so that he was above the level of the bull-ring. The way he transitioned meant that any form of power loss was going to mean a visit to the scenery and that his maximum power requirement was going to occur just before he got ETL - (about the edge of the bull ring).