Dear Jake;
All 72-up engines suffered a horsepower loss due to smog regs. I think in your case they droped the compression.
Yes! That engine has a lot of 'low-end' so It's great for towing. In fact when used in Tow Cars in that era, they out performed the V-8s.
If stock; I would stay below the HP curves top end with regard to "red line". It will go much higher, but what for?
Good luck, John M.......