Inliners International Forums General Discussion Engines HP & Torque Confusion 261-292

I honestly did try searching before posting but I am still a bit confused with how the 261 and 292 compare for HP and Torque.
The 261 is rated at 115 HP and 200 lb. ft. Should I be comparing this with the gross (170 HP, 270 lb ft) or net (125 HP, 250 lb ft) for the 292?
I want to make sure the effort is worth it before putting a 292 in my 1950 Chevy pickup instead of finding a 261.
Thanks again for the help.
Bob