It will help, but not that much.
Buick offered an optional 401 for the '66 GS which has the larger Q-jet, 2x4 spec distributor, and the 2x4 cam. It was rated at 340hp, 15 hp more than the standard 401. It lost a little hp/torque at the lower rpm's but had gains over 4,000 rpm.
A faster distributor advance did help low-end power on my car. And a bigger carb will noticeably improve higher rpm power.
Only a dyno test will prove what those mods really make.