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400 is a good # to shoot for a street 347. I'd say a set nice 205cc heads, tfs-r or box r intake. Here's some math for ya (at least component potential)-
Cubic inches X cubic feet minute X .257 / 8.
If you choose your parts wisely, that formula is fairly accurate for crank HP. Of course you would have drive train loss at about 15-18%
 
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