Fuzzy Math

I know I'm opening a can of worms here. But I brought popcorn, so it's all good.:popcorn:

Regarding carb size on a 340 build...going by the CFM formula in the old Holley Carbs by Mike Urich and Bill Fisher, my calculation come up with a CFM requirement of somewhere in the 600 cfm rating for a 340 cube engine. Most people seem to be running carbs with quite a bit higher air flow ratings. With max RPM being in the 6500 range for a hydraulic grind and 4-speed trans, would a Holley 4777 (650 double pumper) be "adequate" for a street performance build, and why or why not?
I realize I'll probably get a thousand opinions from a thousand different people, but that's OK.
I brought extra popcorn...