Flow tests have shown the 3V heads flow nearly as well as the 4V heads. I think 351CJ is right: better cams would do wonders for the 3V.
Sorry, but I can't find it. I was looking for it last night. IIRC it was a 5.0 or MM&FF Magazine article. I thought that I downloaded the jpeg of the table of flow #'s but I can't find that jpeg either. It was a fantastic article, it gave stock flow #'s for the PI 2V heads, original Cobra 4V heads, 3V heads and the Mach 1 heads. The Mach 1 heads flowed the best. The 3V heads flowed about as well as the old Cobra 4V heads. Then there were flow #'s with the heads ported. I will search again to see if I can find the jpeg of the flow #s table. Maybe someone with more free time them me can search here on Stangnet for the original thread and link. I think that it was posted back in October. Or maybe someone with that 5.0 or MM&FF mag can check in.
That is the article Tom, thanks for finding it! I guess my memory isn't 100% as this article does not show the '03 Mach 1 heads. For those wanting to see the flow #s, you need to click on the "On the Bench" small photo to see the entire chart. Note that there is an error in the chart, the bottom set of #s is for the exhuast flow #'s. (Top is correctly labeled Intake). Note the following intake flow #s at .500" lift (all stock) 00-04 GT 2V - 179 '05 GT 3V - 235 '99 Cobra 4V - 248 So the '05 3V head flows 5% less air than the 99 Cobra 4V The '05 3V head flows 31% more air than the 99-04 2V head. This tells me that there is A LOT more HP to be had with the 3V heads once people get to work on them. (Did someone say cams?) Yes, the 4V heads are best, but you have a LOT of extra engine volume, weight and cost for that extra 5% air flow.
Yes my friends, CAMS will work wonders for this motor. It's kinda the same way with the 2.3, once you port the head on it. I have a feeling that most OHC motors are like this.