After reading the Power Manual and looking at engine dyno-charts, it would be hard to deliver 270 HP and still be streetable. Small cubic inch engines make hp by running high rpm. One of the engine charts in the book is from Sissell's Automotive. Its a 301 making 450 hp, the charts don't start till 4000 rpm and peak at 7500 rpm.
Go with a turbo charger and have power to spare :p Joe