I had a 78 Sunbird with 231 v-6. It was rated at 105 hp and 150 torque from the factory.
Saw an article about how Smokey Yunick got 290 HP out of one.
Headers and a 390 cfm 4bbl later mine was producing 170 hp at the rear wheels at 5700 rpm. On 89 octane no-lead pump gas.
Admittedly the pre-76 231's had inferior oiling and restricted intake flow on the heads, but Detroit has always detuned engines to increase durability.
And the 231 has NOTHING in common with the old 225. The 225 was based on a cut down 6 hole aluminum version of the 337 Buick block (nailhead v-8 circa 1954) and was designed to "obsolese" at 80,000 to 100,000 miles. It got a "boost" when Olds decided to use it for its Turbo F85 because it was thought the aluminum would dissapate the turbo's added heat quicker!!