I would disagree with jake in that the value of torque discussed in relation to an engine needs to take into consideration the example used by jake in his 1 meter in length stick. What he doesn't say is that the same amount of force applied to a longer stick will produce more torque.
In the example of internal combustion engines one needs to understand that two engines capable of producing the same amount of horsepower can produce widely varying amounts of torque. This is especailly true in considering diesel vs. gasoline (petrol for you Brits) engines. Generally, a diesel engine is designed to produce higher torque at much lower rotational speeds and achieves this mainly by having a longer, or more accurately, larger diameter crankshaft, therefore taking advantage of leverage, so to speak. Obviously, there are many more factors involved, but torque and horsepower aren't neccessarily related...