I'll duck in.
Two points.
Point one. 166 hp SAE is a gross Hp reading with no hood, no air cleaner, no exhast, and a conservative heat, humidity, and sea level air pressure correction.
Installled, it was about 123 hp SAE net. Generally, you loose 35% when reading via the net on sixes.
If it was rated the way we do today, 123 hp would be it at the flywheel. At the rear wheels, thats over 92 hp or so.
The second point is that a 200, a 221 or a 250 are very much the same engine in terms of camshaft and power delivery characteristics. It's just that the 221 and 250 have 11% and 25% more torque respectivley without doing anthing to the head.
Each engine has a corresponding height differnece in the block.
The 200 is a low deck engine.
The 221 is a meduim deck engine.
The 250 is a tall deck.
Each engine uses the same pistons, and just gets slightly longer rods and a longer stroke with the same bore.
The Heres the best summary.
The Federal 200 gave 125 hp SAE gross, about 91 hp SAE net, 67 RWHP
The Argie 221 SP 2-BBL, 166 HP SAE Gross, about 123 SAE net, 92 RWHP
The Aussie 250 2v, 170 hp SAE Gross, about 126 hp SAE net, 95 rwhp.*
In general terms, just the head alone on a 200 should add more than the close to 40 ponies the Aussie 2V heads gives stock US 200'S.
With any of the modern the cams and carbs and headers they run, an Argie engine will make great horspower. It's nothing for Aussie 202 Holdens to go up to the 160 net hp level with just the single jug carb. With a 2-bbl and a good head, 200 hp net is easily in reach with just a cam,carb and headers.
Guess what? The Argie bits are all there to get another 100 hp net at the flywheel without making the engine any less tractable than the stock
engine.
* Indications are that that was a fudged figure, as the 240 hp Gross 302 was not much quicker than the 170 HP 2V, but I'm not here to argue