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Probably not a lot. you' re not bumping the compression but .5 and with the 350 cam you'll be dropping the torque at lower rpms. torque is what you feel from a stand still not hp.
This is the 290hp crate engine from GM, it has about the same lift as the 350hp camshaft with the 8.5:1 compression.
I put the 350hp camshaft in mine and kept the 8.5:1 compression, it sounds good at idle, but as stated before I lost a lot of low-end torque. This cam was recommend to me by a local performance shop and I am happy with the sound, and mine is bassically a summer daily driver never races or anything so the torque loss isn't a big deal for me, but if the performance is an issue to you I would not go with this set up.
That's not a big compression increase, but to answer your question, I would bet that you would gain about a peak of 35 HP to the ground. Your torque curve would shift slightly upward.
Not to open the torque vs hp debate, HP makes you quicker, not torque. A 500 HP Ferarri has much less torque than a garden variety L-48 200 net hp Corvette, but would be much quicker than the Corvette if they weighed the same....
That's not a big compression increase, but to answer your question, I would bet that you would gain about a peak of 35 HP to the ground. Your torque curve would shift slightly upward.
Not to open the torque vs hp debate, HP makes you quicker, not torque. A 500 HP Ferarri has much less torque than a garden variety L-48 200 net hp Corvette, but would be much quicker than the Corvette if they weighed the same....