Ya, unless built to race.
Lots of other variables to consider as well. I would used it as a baseline figure to round up or down depending on what my goal and other factors are (headers, blower, cam, altitude, etc) vs. what is available.
I know there are many more formulas and opinions and CFM is not the end all. Now you get to tune it.
The two equations give about the same result at about 5,500 RPM.
That is a fairly high RPM for a 235, I think?