Gearing questions

Since I have the next week off I would like to get the ball rolling on getting this b-body rear under my a-body. When I built my motor last spring I had 3.73 or 3.91 gears in mind for my car. This fall I bought a 489 center section that had a new set of 4.10 richmond gears on it. I know I don't have enough convertor and maybe not enough cam to run 4.10 but what would happen if I said what the hell and ran the 4.10 anyways? Would it make the car boggy on launches? Here is a lil info on my setup:

74 Dart sport
360 bored 30 over, zero decked with about 11:1 comp
Edel Alum heads
Airgap
Comp cam solid 274/280 236/242@50 .502/.511
1.5 rockers
650cfm mighty demon
2500 stall conveter
904

There is also one issue about gearing I still can't comprehend for some crazy reason. I know the higher ratio the more low end balls its going to have but I don't understand why. I know with 4.10 for example that for every 4 revolutions of the drive shaft that the tires turn once. Right now my car has 2.76 gears which I am guessing the DS spins 2.76 turns to 1 turn of the tire. To me it kind of seems like a waste of power if the engine has to turn the Drive shaft more times. Can someone explain this better to me or put it in better perspective?