I found this chart on the internet.
Personally, I am rebuilding my 340 over the Winter looking for 420hp and having a 12 second car (high or low is okay with me)
It shows how much horsepower is needed at the flywheel to run an Elapsed Time in the ΒΌ mile. This chart is under optimal conditions. The entire car must be set up perfectly to run these times. Very few cars run 100% of their optimum. Wheel spin, slow shifting, clutch slippage, and other factors reduce the amount of usable horsepower.
...................... 2600 2800 3000 3200 3400 3600 3800 4000
15.0 seconds...167.. 180.. 193.. 205.. 218.. 232.. 246.. 257
14.5 seconds...186.. 200.. 213.. 228.. 242.. 256.. 270.. 285
14.0 seconds...206.. 222.. 237.. 253.. 270.. 285.. 301.. 317
13.5 seconds...230.. 248.. 265.. 283.. 300.. 318.. 335.. 353
13.0 seconds...257.. 277.. 297.. 317.. 337.. 357.. 377.. 397
12.5 seconds...289.. 311.. 334.. 356.. 378.. 400.. 423.. 445
12.0 seconds...327.. 352.. 377.. 402.. 428 ..453.. 479.. 504
11.5 seconds...372.. 400.. 429.. 458.. 486.. 515.. 543.. 572
11.0 seconds...425.. 458.. 490.. 523.. 556.. 589.. 620.. 653
10.5 seconds...488.. 526.. 563.. 600.. 638.. 677.. 714.. 751
10.0 seconds...565.. 608.. 652.. 695.. 739.. 783.. 826.. 870