need more info...

Were those numbers the uncorrected HP and torque, or were they SAE corrected numbers? If they were uncorrected numbers what Temperature, Humidity, and Altitude when tested?
What were the RPM at peak HP and peak Torque?
If it has the standard Performer intake, it is not much better than the stock intake?
To get 500 crankshaft HP with stock heads, the heads are usually ported and have larger 2.14"/1.81" valves. With aftermarket heads, 500 HP is pretty easy to get.