DeTom, I think your horsepower numbers are off/low...I've seen actual dyno printout in late October of 2008 on .030 over 351C with cam lift similar to what you and I are talking, 10-1 compression, etc. This config should easily push you into the mid 400+ hp range. PM me your email address and I will email you the dyno chart that shows between 456-483 hp 5500 to 6500 rpm. I am getting exact cam spec, and head config and I will also forward that onto you. The reference motor is using a Holley Strip Dominator which I understand can be worth 30-40hp.
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