"All of the above"- - - -except:
You will still have a bypass oil filter, which actually does a better job of cleaning up the oil, as long as the proper filter cartridge is used. Unless you do some pretty risky modifications, no 235 is going to have full flow oil filtering. To flow enough oil to lubricate the whole engine after it passes through the filter, a much looser weave filter media must be used. That translates to less-efficient filtering, even if all the oil gets strained every time the pump picks it up out of the pan.
This discussion has been beat to death for years, and the self-appointed experts who think they know more than the engine designers aren't likely to change what passes for their minds. Change the oil and the bypass filter regularly, and don't worry about how it gets filtered!
The increased HP and torque will be noticeable, especially if you're running at or near max gross weight.
Jerry
