Don't build for horsepower, build for torque.
Building an engine for horsepower comes with all kind of 'issues' that need to be tackled/improved/upgraded as well like valve springs, pistons, intake, carb, torque convertor, rear axle.

With an engine built for torque you leave the rest of the drivetrain pretty much stock.
2.94 to 3.23:1 gears? They are perfectly OK to burn rubber if you have torque under the hood.