As Joker said, this is just a run-of-the-mill motor, nothing special, so don't get your hopes up that it will be a ground pounder. What I would do with it is to tear it all down and determine if it is worth rebuilding. If it has already been bored out to 0.030" over and needs a re-bore, then it isn't really worth boring to 0.060" over. Some blocks will take it and some won't. If there is no ridge ream at the top of the cylinder bores, then it's possible that you could just hone the cylinders and use a new set of rings and be back in business. The iron heads are the limiting factor in building horsepower in the motor and like Joker said, you will have a 155-175 hp motor or maybe juice it up to 200 with a slightly hotter cam and a set of headers. Any quest for more power than that will have to be with aftermarket aluminum heads, about a $1,000 outlay, but with the capability of 400+ hp with high-rise intake and 750 CFM carburetor. Intake, carburetor and pistons will be another $1,000. Also, figure another $1,000 for machine shop work and balancing.
It all depends on how much money you have to spend and how fast you want to go.