It's possible, but the heads you most likely have would require some porting, and some work...
The main problem with the late 70's 400's was they dropped the compression ratio's and the power went right along with that drop. So for the most part, the heads are the key ingredient, to making the power. (the best way to do it)
Think of the engine as a big air pump. The more air you can get into the engine, and the more air you can get out, will produce more torque and HP.
So, depending on what motor it is (code?) and what heads you do have... you can do all the basic bolt on things (Headers/Intake/Carb/Ignition etc... and gain some power, enough to feel... but with out doing some upgrades or even changing the heads, it may not be enough... but will be a change in the right direction.
You may need to tell us more about the engine before you get some more specific answers?
Engine year and code. Any mods now like headers, carb, intake etc.. What car is it in, what tranny, what gears in the rear etc... All variables that will effect the final outcome.
Good luck, keep us posted - Brett - 67 Drop Top 455!
I just read an interseting article on the National Firebird and Trans Am club web site. A guy took a late 70s Olds 403 and invested $1600 and was pushing about 350HP. I guess there are some real Pontiac die hards that shiver at the fact that an Olds small block 403 was ever used in a Firebird. However, it is an economical way to get some ponies under the hood.
Without touching the heads, swapping the intake, cam and adding headers or RA III mainfolds will get you the most bang for the buck. Make torque at low RPM instead of HP at high RPM. Adding a few degrees advance to most stock cams will really wake up a low compression motor, too.
70 4 bolt 455 bored .060, Holley Street Dominator intake, heat cross over completly milled off the intake, Holley 780 vac secondary, 1 inch spacer, gasket matched intake and heads, milled 6X-8s milled to 96cc, 1.77 exhaust valves, home ported and polished, Lunati Bracket Master II cam, 1.65 Roller Rockers, double roller chain, crank scraper, headers, and HEI conversion.