The Holley lower is just about a 1262 Fel-Pro, so if your heads are not ported to a 1262 there will be a step, this will create turbulance and cause a loss of some power..how much, I really don't know. However you should see a gain in power switching to the Holley over the GT-40.
I know I needed a 1" spacer with my fabbed alum valve covers and I had to grind down one of the bolt heads to get it not to rub...
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D/R 10108 NMRA Drag Radial, 25.5 chassis, F1R
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