Yeah Mat, I actually believe it is the cam that differs, although I'm not 100% sure on that.
I've read the 205XS is rated at 80bhp, and the AX GT at 85bhp due to the cam. Also the red line on the GT comes in just before 7k revs IIRC where as I think the 205 was around 6.3k. I had a mate who had an XS and there really didn't seem to be much in it, perhaps the AX just being that tiny bit nippier due to it's weight advantage.
But....I've also seen reports saying they both had 85bhp, and that the engines are identical. The difference in "performance" was purely down to weight, and advertising; the XS was easier to insure than the GT and Peugeot didn't need another difficult hatch to get behind the wheel of....the GTi!
I know the AX GT has pretty short gearing, and I also remember the XS did. I'd bet they're actually both the same....cam, gearbox, carb etc. In fact back in my days my friend actually wound his 205XS up as high as it would go! Hit 6.3k revs, then a flat spot, then at 6.7k revs started pulling again to 7.5k!
Whether the cam differs to the BX's I'm not sure, it probably does but not by much. But it's an easy mod to switch the heads. The BX14 TU is very underrated performance-wise anyway, and isn't as far off a 16 as the figures suggest in my experience. With these AX bits, that gap would be practically zero!
Kill Jester.