Hmm... did a little tweaking.
It does not appear that FWD, RWD or AWD per se affects the PP system. Rather, it's the inherent ability of the stock car, whether it's the ability to put power down or how easy to handle the car is, that affects PP. Just checked... to get the exact same PP as a stock 07 STi, a Delta Integrale needs to weight around 1000+ kgs (down from the stock 1300+) and needs to put out 352 hp. Now, considering the Integrale doesn't make near as much down low torque as the STi (when you raise the numbers that high, the Integrale engine becomes peaky), that's still quite a difference.
Take another car... the Honda Integra. Even at the same PP as an STi, a Honda Integra is still handicapped (somewhat) by its drivetrain and is given less of a power bonus (though it still weighs in at around 300 hp and just 1000 kgs at the same PP). The only reason the Integra should be given less PP advantage than the Integrale would be due to the Integra's better chassis.
And the way it works out... at the same PP on the same tires, the STi > Integra >> Integrale. There's just no getting around some of the quirks of the stock chassis and tire sizes. (A Swift on R3s is still just on 195mm wide tires. An M3 on R3s has a ton more rubber).
From the looks of it... Polyphony Digital likely arrived at the base PP of each car partially by calculation and partially by "feel". The way it almost (but not quite) completely balances out means that it's probably not some arbitrary mathematical calculation, but extensively play-tested. The nature and origin of PPs may be a good question to ask Kazunori.
Like clacksman says, knowing which cars handle predictably on the limit as stock gives you an enormous advantage against PP balanced opponents. But given that the advantages are sometimes measured in mere tenths, I don't feel that cars such as the Clio and Integra are as unbeatable as some people make them out to be... I've gotten close to Integras with the Focus, and the Elise has the Clio's number (you've just got to get the gearing right to overcome the torque deficit) if driven right. It's all about balancing your tire choice, aerodynamics and PWR properly. Knowing which ones to prioritize or sacrifice on certain tracks can be the key to outright victory online and cries of "cheater" off it.