I consider the windage tray a must - not for any horsepower gain, but for improved
oil control.
The ARP bolts are a nice upgrade - although I've never seen a factory FE bolt fail in service - they are all 40 years old and normally look kinda ratty. Studs are not needed at this level - again a nice upgrade - but not needed.
The cam in the test motor is pretty snotty and would be a lot of fun on the street as long as you are happy with a 900+RPM rumpity idle. You could tame it a step or two and still keep most of the power.
The 4.125 stroke version would give up ROUGHLY 35 horsepower & TQ
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Survival Motorsports
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Engine Masters Challenge Entries
91 octane - single 4bbl - mufflers
2008 - 429 cid FE HR - 675HP
2007 - 429 cid FE MR - 659HP
2006 - 434 cid FE MR - 678HP
2005 - 505 cid FE MR - 752HP