That depends on the level of porting done. If the same person was doing the work, or lets say a full port W2 vs. a cnc 230 ported Indy oval port head...IF the engine was large enough and has enough compression/cam, etc.. the Indy will make more power.
The 230 port is pretty large and would take a ton of porting on a W2 to match...might be impossible within the W2 casting.
It would really depend on the engine and what it needs to get the job done. A typical RHS headed street 410 will make 480-520HP on pump gas while a 420cid sb with 13:1, race gas, large roller cam and rpm ceiling of 7500rpm will make over 700HP with an Indy head.
Brian