How much HP would you guess my 340 produces?

If the engine runs well and the car is driveable dont worry about the numbers you will drive yourself nuts.
Drive it alot and be happy you can only do so much with 340 cid's.
I would not attempt to put a larger cam in it to "wake it up" you are more likely to "screw it up"
Been there done that, I will soon be in the process of removing the larger cam from my 340 which happens to be a Comp WR274HR-10
Very good suggestion. I don't race the car so it doesn't really make much sense for me to make any changes. The car runs fine the way it is. I was simply wanting to see how much HP I might have / be able to get out of the motor.