It's about getting air/fuel IN and exhaust out.
That needs the valve to create a larger opening with less restriction.
That needs larger valve area and longer opening.
To do that in only 1 inlet and 1 exhaust becomes difficult and VERY expensive as the valve stem to head ratio creates a higher stress causing breakage and difficult airflow. it also generates MUCH higher valve temperature AND it requires a VERY high lift cam and associated double springs.
More valves allow each valve to be smaller and offering more area so they run cooler and less stressed. The stem to head ratio is lower and can be more 'flowed' and reduces stress and improves flow. More valves mean they dont' have to open as far to offer the same flow, so the cam doesn't have to be so extreme and the springs don't nee to be so strong.
So multiple valves in a HIGH performance engine means inherently less stress in the valve train.
Multiple valves can also assist in controlling the fule/air flow dynamics to optimise swirl in the chamber. This used to be viewd as the 'best' way but more modern fluid dynamics modelling has led designers to use the manifold to produce the necessary 'swirl'.
EDIT: I went looking for detailed numbers on the LS1 engines bore/strock and valve sizes to add more information, more explanation of why the above is true and found a VERY informative article -
http://www.idavette.net/hib/ls1c.html . It's a great read and I think shines MUCH light on this and previous Corvette engine discussions ( not because it only supports my view BTW
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The CLEARLY spent a lot of time getting the flow in and out. They then got "enough" power using just the 2 valves so stayted with it ( also comments about truck owners
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