In 1971 all manufacturers started making lower HP motors just by changing the heads, they increased the area above the pistons raising the cc numbers and that lowered compression ratios from 10.75-1 to 8-1 or so. They also ran lame cams unless you had a HO, trans am, etc.

You could easily make this motor scream by changing the heads and cam, just don't push it, unless you're balanced etc you shouldn't push any V8 past 5000 unless you have lots of cash to blow on another engine. You could easily get this motor in the 350-400hp range with tons of torque.