Yeah ... I have an HRM and while I'm at the gym riding the stationary bike I stare at the BPM reading. Depending on the "ride" I'm doing I can just spin for a long time between 130-140, or spin plus intervals that would put me north of 150, usually no higher than 156ish.
I rode Sunday, outdoors for the first time, and I went as high as 164 and I'm like, "WTF? I'm dying here. Didn't ANYTHING I did in the gym stick?" ... so then after that particular spot I just spun easy for a short bit and then I was fine again. But it really messed with my head for a bit.
Outdoors is just different .. there's more variables. It's not just "resistance" but also wind, hills and there's a mindgame that goes on too.
All of that said, despite needing to drop more pounds, I feel like I'm in great shape for early spring.