As a school project porting the heads will be good. If you can get to say 240>250cfm with them it could improve things 20>30hp as an approximate gain with the low CR. It may only be worth a 1/10th or so. However keeping that small 3310 will do you no favors at all. An 850DP will be the order of the day (even without the porting) in my opinion as I have said before, that alone could be worth 2/10ths over the VS, and even more so to get the full benefit of the time taken in doing the heads, 440's like air and lots of it, you'll be launching on 2 pump shots and 4bbls not 2 and 1 shot. The cam is small but should work to around 5800rpm and with your 3.73's and a weight of approx 3300lbs all in?....the car could go well in the 11's with a good hook and trap@around 5600 with converter slip.

So you can say doing the heads will benefit some but not much with your current 750VS as I see it,....coming off the line with that 3310 and an 850DP will be Night & Day and the 60fts/ET will show it as well as the mph.