The 392 is rated at 475 HP and gets about 420 at the wheel. There are Youtube vids of this car doing mid 12's out of the box (though it may have had drag slicks in the video).

I heard about the shift skip but I heard it was between 1st and 3rd. I know there's an in-line gizmo you can buy that hooks up to the tranny that makes that go away. Also thinking of adding a programmer and cold air intake which would add about another 25 HP but also don't want to mess too much with its stock status. The seller was the original owner and did no mods whatsoever; this car is completely stock and I'd like to be able to undo whatever changes I make if I wish.

Can't wait to get it to the track in the spring.