Let's put a mild 8.2:1 360 on the dyno.

Steve Dulcich rebuilt a '69 340 to factory stock specs including the stock 535 cfm carter carb and it dynode a max of 281 hp through manifolds.
he continued to add aftermarket pieces and a 750 carb alone jumped the hp to a little over 300.
i have no first hand dyno numbers myself,but with cam and other changes he ended up at 392hp

I think I remember reading that article. I have also seen dyno reports that shows them making north of 320 hp in stock form so I guess it's a case of what are ya gonna believe