I put my 235 build through the DeskTop Dyno computer program and it came back as 170 HP. I don't really believe that but some of my more knowledgeable Inliner friends say it isn't far off. Well whatever. I just know that time spent on the heads milling and porting is time well spent. Then do the intake and exhaust bit along with a little better cam and carbs and there you are. Don't forget the ignition, it is a big improvement.
I have seen 302' Jimmy's put out about 700hp naturally aspirated. Probably worked out to about $1000 per hp, HA. But darn that thing would go.