Normal Operating Power for the steam engines was about 1700 Hp per shaft, 3400 Hp total. Max Power output of the engines was about 2500 Hp per shaft, 5000 Hp total.
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There the economic edge ended, however, as diesels were far cheaper to operate. Fuel costs were less, for openers, but that was just the beginning. Typically, steam spent far too little time on the road and far too much in the shops and engine terminals being serviced and inspected.
Steam engines CAN be more powerful than diesels. Steam engine have been built with 7000–8000 hp. They tend to be very heavy and very complicated with multiple driving axle articulated trucks.
With high-speed rail, train travel is always faster than driving. In many cases, it's even faster than flying, once you factor in the whole air travel song-and-dance. And if you do need to catch a plane, trains make it easier to get to the airport.
Modern locomotives use electric traction instead of gears as electric traction is much more flexible than gears. Diesel fuels generators from the combustion engine and transform the energy using an alternator, which runs the traction motors.
The last meter-gauge and narrow-gauge steam locomotives in regular service were retired in 2000. After being withdrawn from service, most steam locomotives were scrapped, though some have been preserved in various railway museums. The only steam locomotives remaining in regular service are on India's heritage lines.