In my mind you’d do the head swap first(240’s to 270’s, “port matched” TF manifold)....... then start adding duration to see what it took to get the HP number to start exceeding the TQ number.

The 505 that was recently on the dyno here(10.5cr, HR, EZ295’s, Indy 2D) made the same TQ/HP.......640/640.
That combo had about 10deg more duration along with heads that flowed 344@.600.

The Indy 2D was used primarily for hood clearance reasons.