2.76 open to 3.55 Sure Grip...expectations too high?

Depends on how much power and what rpm you make power at how effective gears are.
Below is a stock magnum "base" vs a modded one. The stock makes a pretty flat hp peak from 3700-5300 rpm at a relatively low rpm making easy for a high gear ratio to get you there and stay there. Say a 2.76 gear stays a high percentage of acceleration time around 4000 rpm your within 98% of peak hp more gear is not gonna give much more power since there would only be 2% "5hp" left, But the modded engine going from 4000 to 5800 rpm is a 134 hp gain not 5 hp so set of deeper gear giving a more average higher rpm time up in the 5400-5900 is gonna make a big difference.

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Exactly. Too much "rule of thumb" info given as blanket statements. What you posted is where I was heading in my post on page 1. After reading the interwebs so many believe it's the same as adding 100 hp. A basically stock 318 will notice a "little" difference at the 0-25 punch, but it's not earth shattering on this type of gear change. Now take a car that doesn't have a good converter and a big cam, yep, the jump in gears will do wonders.