Initial Climbout power reduction

You accelerate to Vy (in most aircraft) which gets you more cooling air, gets you to cruising altitude faster and therefore gets you to level lean and clean flight. It would seem to me pulling a few RPM off as you lower the nose slightly for Vy is a good thing to do. Why wouldn’t you want to do that?
In many high performance aircraft, Vy is literally for when you need climb at the fastest rate. Or you are at such a high density altitude that higher airspeeds will not result in much climb.

In these aircraft Vy + 10 to 25 is not uncommon for still good climb rate with adequate cooling. Another reason why pulling back power to some cruise climb is often not a good idea - now you do have to fly Vy for a decent climb rate, but temps suffer even more.
 
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