Factory 68-71 340 puts 325HP on GM Dyno

Here's the quote from the allpar page.

With reworked heads and a set of headers, the factory 275 horse animal (that the insurance companies at that time corrected to be 325 horsepower) becomes 330 according to Dodge and 380 horsepower according to the insurance companies.

Insurance companies came in high because that is what they wanted, desired outcome.

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Dyno's have correction factors that can be adjusted to make an engine have pretty much whatever HP you like.