I've never had any trouble putting tuners to bed. Hopping lights, quarter-mile, or whiskey runs, and all I've ever run is Old Skool. Last I saw, the top drifter was an old Camaro running a porker. They turn fine, at least my last one did. You can after market a lot of performance into the old stuff just fine.
And where did you hear that an old skool 350 won't put out more than 300 ponies?
I didn't hear it. I see it, at the dyno days I attend. Most old school 350s won't turn over 300 on the dyno. The best I've seen for a pre-LS1 street-legal normally-aspirated carbed 350, so far, was 405, and that was a loping monstrosity that the guy could barely keep running at a stoplight.
The sad part is when the guy pulls up claiming that his car makes "five hunnert horsepower" and the dyno tells him that he is *sadly* mistaken.
I wouldn't expect you to know what this is... but at the time of the pic, it made 1100 horsepower on the dyno and was perfectly docile around town. Now it makes 1300.