Yes, a GM Goodwrench 350 makes around 239 hp stock. This was proven on a dyno. This was with a stock Q-jet, aluminum intake and stock exhaust manifolds. Stock cam, heads and all.
I have one, but added Edelbrock heads, a modified Q-jet, and a CompCams XE268 cam, along with a bunch of other stuff. I will put it up against anyones 350 in here.
The biggest hold back on these engines are the heads. They royally suck, but so do any of the stock emissions heads. I guess you've never read what can be done with this engine? Did you ever read the series of articles Chevy High Performance did with this thing?
http://www.73-87.com/chp/chp.htm