The 350P shares the same 3.75" crank with the 326, 389, and 400, so it responds to mods just like these engines. The small chamber 72cc heads that make 10:1 SCR on a 400 will only make 9-9.2:1 SCR on a 350P- perfect for pump gas. The 350P does have a smaller bore than a 400 (3.875" vs. 4.12"), so you have to be careful when adding big valve heads- check the piston-to- wall clearance. Some 350P's like the 350 HO had small chamber, big 2.11/1.77 valves like no.48's on them- the tops of the cylinders were chamfered to allow these heads to work on them. In fact the small chamber heads w/ 1.96/1.66 valves are better suited to run on a 350P- look for no. 14,15,16,17,18, 46, 47 small valve heads. These will all wake up a sleepy 350P.
The other traditional bolt-ons/ upgrades also apply- a cam, 4 bbl., headers, and ignition upgrades go a long way towards building hp. Cams that work well with a 9-9.5:1 350P are the Crower 60916 or 60240, Summit 2800, and Comp XE 262H- there are others. Expect around 300-350 hp with all of the above upgrades, more with ported heads.
Geno