You do realize even with a different th400 you'll still need to cut the drive shaft and move the transmission crossmember right ?
I was told 40 hp. Draw with the 400 over the 350, I have always been a fan of a built 350, An abused many!
It's parasitic, so the loss changes as a percentage of the power input level... so, while it may be 40hp at some point, more power going in will mean more than 40hp loss, less power going in will mean less than 40hp loss. That applies to both transmissions (and ALL transmissions)... but the percentage of parasitic loss is MORE for the TH400 than the TH350.
I did, An I was only putting a hp denomination to it, As told to me in the 80's by a head GM tech at a dealership l worked at, He ran a Very successful rail here in Western NY., An Dude was no BS, As stated earlier ... We all agree it takes more HP