Hi rns-e, my knowledge on electric motor is actually very limited since my doctorate degrees are not in physics or mechanical engineering. But to answer this question, from my understanding, you get nothing different but all the perks and characteristics of the 691hp max output motors, before the motors hits the battery limit. These characters come definitely from the 691hp max motor which the 463/417 max output motors can never produce. This is the key difference between the ICE engine and electric motor, and if you have to use 1 figure to describe the performance of the car to the consumers, 691hp is more appropriate than 463, IMO (but nobody forces tesla to only use 1 number, and they actually used two sets of numbers for 85D on their website). Some of the augments in this thread about never getting the promised 691hp is not quite true, since they did get the full wrath of the 691hp motors as soon as they put the foot down, and at least officially on their website tesla never promised 691hp (but judgeing from the posts, there are defiantly sales staff or service staff in tesla who did not know a lot about eclectic motors and BSed when confronted with the questions they didn't know; Or some of them knew all the drills yet intensionally misled the customers). The difference is that, with the battery limited at 463hp and all the other limitations of the battery/electric motor, the 691hp performance can not last very long.
I think tesla did play tricks so that when they are busted no one can accuse tesla of lying. So they are still sticking to their story as we speak.