What to expect out of mild build 360

Yeah I may attempt to do that when winter comes along, the only reason I'm concerned is because when my dad and I were rebuilding the engine we accidentally stripped the threads for the balancer bolt so we just loctited it in there with whatever threads were left. But if its gonna give me some good gains it might be worth it to try

They make these new things. Maybe you've heard of them. Heli Coils. I think they've been around since the 1930s. LOL At any rate, that will fix your problem if it's the crank threads that are messed up. It could be the bolt itself, which is an easy fix. Either way, it's very repairable, so don't let that slow you down.