HotRod Magazine added Explorer heads (GT40P's) and a Cobra intake and gained 30rwhp on a combo similar to yours (stock cam though). The ported E7's will do much better than stock, I'd just pick a slightly milder intake like a Cobra or Performer (not RPM). Sounds like a good budget combo to me.
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Novi 2000 now spinning off the snout of the 331...
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