can someone confirm horsepower?

im prolly gonna pickup a 1988 Ram 360 v8 this weekend and im a little concernd. i want to get good gas mileage outa iut and like 250-280hp at the same time. ive read that these engines produce like 170-190hp stock. can spomeone get me a 100% positive confirmation on this? would it be hard to get an '88 360 up to mid 200's hp wise?