Horse Power and Torque

The issue is the heads with the camshaft IMO. 180-185 is about the limit for pump gas with no other design elements to help put off ping or detonation. Your tuning needs to be perfect. If you have to adjust the timing, I'll toss out that the carb may not be optimized because it "should" be ok with the convertor and car it's in, with mid 30s timing and high initial. Good on slowing the rate of centrifugal, now get deeper into tuning the carb. Look at the jetting and more importantly the power valve(s).
In terms of power - I think it will slightly down from where you want it, because of what I would call tuning issues.