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I must be missing something here...
You must mean getting you're current 440 to 350 net hp?? The 68-70 440's were 375 hp. The 440 six pack's were 390hp and I think 490 foot pounds of torque.
Keep in mind, 71-older engines are rated SAE gross, while 72-newer ones are SAE net. I read somewhere years ago to multiply net figures by 1.5 if cat-converter equipped (and 1.25 if not) to approximate a gross hp. With modern high-flow cats that may no longer be a good estimate, though.
Theoretically, a 345hp 5.7 Hemi will make more power than a 375hp 440.
But:
The new Hemi also has a better chance of making more area under the curve by virtue of EFI and computer-controlled ignition timing.
And the 200+ lbs saved between 5.7 and RB bears some further  . That's more speed AND better MPG, braking and handling. 
Parts I seek:
driver doorpanel, 65 Sport Fury, prefer black, needs to be 7-8 on 10 scale, might buy set
16" x 6" Dodge truck wheel(s), from early 70s?, takes 9" dogdish - need for a research job so cheaper is better.
69-73 C-body caliper brackets and/or splashields
Send a PM.
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