261 advertised HP is 150 at 4000 rpm,torque,235 lbs ft at 2000 rpm. The one and only reliable 50's dyno test of a stock 261 showed 114 actual HP at 3500 and the torque was 200 at 2000 rpm.For low speed engines like these, all they have is low speed torque.
I have 2 good running 261's in Pu's one is more or less stock,the other has a mild cam,cast iron headers and a 4 bbl.The modified engine pulls as good as the stocker down low and is way better over 3000 rpm.
I would say stock 292 makes more pulling power, and yes, Leo's book only covers the later 6's.You can look in the old 50's 235 tuning books or buy a May 1955 Hot Rod magazine on Ebay, the book has the only good 261 modifications and dyno tests available.