Jack;
The way I read your post, you don't want to remove the 216, but want more HP, and don't care if it doesn't look stock. Here's my $.02.
You really can't do a lot with the 216; the dipper oil system and cast iron pistons really limit the RPM's and compression, the two easiest ways to raise HP. In my opinion, the 216 is a severly limited engine.
So why did I put an 'ISKY' 3/4 grind cam, Fentons and 3X1 manifold on my '49???? The answer is "because I wanted to"

. I didn't run any before and after comparisons, but it sure felt stronger and sounds a lot faster!! Also, everything I did on the 216 will be a 'bolt-up' to the full pressure 235 with pop-up aluminum pistons that is in the process of replacing the 216. When the 235 is in and running I will then be facing a weak transmission and rear axles - I used to break them with the stock engine.
If you're looking to have fun, put a mild cam, 2X1 intake (or Tom Langdon's 2X2) and a set of duals on it, but don't challenge anything stronger than a stock flathead Ford!