I'm an Idiot building an engine - horsepwer numbers?

Hey guys here is another horsepower thread. I bought a 331 shortblock with the following assembled from the machine shop to put in my 86:

-srp flycut forged pistons, eagle rods , eagle crank, main stud girdle, arp hardware

As far as engine parts only I have the following parts to bolt on:

5.0 Edelbrock heads (1.94)
Canton polsihed tall covers
Harland Sharp 1.6 stud Rockers
nitrous cam NX264HR comps cam
Canton 7qt pan (15620) w/ pick-up
FMS HV oil pump w/ hardened shaft
Crane lifters
FMS indexed double roller chain
Edelbrock Performer II upper/lower intake
Edelbrock 75 mm tb/spacer
TFS 1" spacer
28oz sfi billet flywheel
28oz streetdampr balancer
Aerospace billet electric water pump
FRPP 30lbs injectors
Pro-M 76mm mass air
Paxton fuel regulator
Autolite 3924 plugs
march pullies
Mac shorties, h-pipe, flow-paths
MAC cold air kit
Ford Racing rebuild gasket set
155lph fuel pump
A9S mass air conversion
MSD 6a w/ MSD tfi coil and Ford Racing wires
aluminum radiator w/ proform electric fan + 180 thermostat

1) Any guesses at a power estimate?

2) And with these heads it says that you can use the stock replacement Fel-pro 9333PT1 head gasket with them but if you move up in compression ratio or supercharge/nitrous (no immediate plans) you need to go with 1011-2 gaskets. Any comments?

This is a budget build and don't want (can't) spend anymore money so unless I have to I don't want to buy new gaskets. The parst were all bought either at a good deal or next to new and that's why I bought them. Ofcourse if money wasn't an issue I would have bought better heads, custom grind etc. etc. but I can't. I just want this thing to run!!!

3) What does everyone use for a canton oil pan gasket? Better to use my 4 piece or go with the 1 piece?

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Probably in the mid 300's at the crank.

Probably around 315-320 at the wheels.

Use a 1 piece oil pan gasket.

Are you planning on spraying it? (nitrous cam?)

If so, stock replacement head gaskets are probably NOT the way to go.
Two big things that effect power are compression and RPM so that's tough to say. I'd personally get good head gaskets if you think you're ever gonna run spray or a power adder. Do it right the first time.

edit: Sorry missed the "mid" before the 300's. Thought you meant 300 at the crank 320rwhp. Duh.

The only reason I came up with those numbers is based off of all the other 331 combo's people have (who have posted numbers here on stangnet).

I personally have a 331, but it made with Victor Jr's and a carb 407 RWHP. Now it has Cannfields that blow the victors away (in CFM), and a CNC'd intake...plus a better cam. I would estimate it around 430ish (at the wheels), hopefully more but I am trying to be realistic.
learning to finally post piuctures here........

sorry for all the posts....finally figured out how to upload some pics.

I just purchased a 1 piece fel-pro oil pan gasket and some fel-pro valve cover gaskets. My heads are at the machine shop because they need to be milled. As soon as I get them back I'll keep going on assembly.

I'm getting my neighbor to degree my cam for me..........I have no idea how.

Now I need to go to parts store to find a proper standard rotation water pump.