How much HP will it deliver?

No one knows how much lift is maximum recomended on standard 360 heads?

I had asked a question like this before about my X heads and the common answer was that it varies from one head to the next as they were mass produced not all are the same, most* people said around 480-500 was the limit on X heads so probably around there for your heads, a machinist/engine builder could check it out and grind the guide area for you if needed.