Match Race ~ 1966 Valiant 273/235 HP vs. 1965 Corvette 327/250 HP

1965 Corvette Curb weight: Approx 3140 (coupe) lbs
1966 Plymouth Valiant weight: Approx 2,725 (dry) lbs

Power glide gear ratio: 1.76:1 * 1:1. (1.82:1 for exports) with 3.71 rear.
TF A904 gear ratios: 2.54:1 * 1.45:1 * 1:1. With 3.91 rear

Valiant power to weight: 11.59 to 12.1+
vs.
Corvette power to weight: 12.5+

Valiant torque(Commando-273): 280 lb/ft @ 4000
'Vette Torque(L79-327): 360 lb/ft @ 3600

Basically it will be very very close but I will bet on the Valiant due to it having more gears and slightly less weight.
If that corvette had a 3 spd or even a 4 spd manual. Then I think the Vette would easily take it.