Be careful also with the "240 HP from 265 ci" thing. Engine power is rated way differently between the fifties and nowadays, and a '56 265 is certainly not 240 producing modern days HP!
In the fifties, engine HP was rated gross, measured at the flywheel without accessories; today, engine HP is rated with all accessories, at the wheels. Although all this varies between manufacturers...
The difference between gross and net is often accepted to be 1/3 to 1/4 smaller number for the net, but there is no exact rule. This means that your 265 may be around 160 to 180 "modern" HP, not so exciting, isn't it?
Also, for many years, the factory power numbers were just fake, decided for marketing reasons, for instance (in any given years, not just in t956) the engine in the Corvette had to be advertised as more powerful than the similar engine in the sedan...). So, all we can say for sure about your 240 HP engine is that it is probably more powerful than the 225 HP engine, and cost a few dollars more... After that...