That is true...if and only if you have enough octane, no detonation, and the timing backed WAAAAAAAY down.
There is a reason people run o ringed blocks and cometic gaskets, and I assure you it's not only for that 8%!
What are you doing for trans, converter, drivshaft, and differential ??
My car will only be about 100# lighter than yours.
I have a dynamic converter but 727 needs rebuilt as I think the pump went out.
It had been hack job manual shift converted and ran full line pressure at all times.