Just as one data point: I've got a brand-new LS3, replacing my blown-up LS1, with the only internal mods being a Ragin-Racin Comp cams grind (227/235, .614/.621, 114 lsa), and .036 Cometic gaskets to raise compression to about 11.2. It made 459 RWHP, barely broken in, through a 12 bolt 4.11 rear end. With 92 octane fuel, I could only run about 24.5 degrees timing before I could hear occasional slight audible detonation. But the one run we did at 25.5 timing made no more power, so I'm guessing that 11.2 with 24.5 timing is about the optimum for our Oregon 92 octane.
From looking at a lot of different combos in the different forums, you just won't see a large improvement from porting LS3/L92 heads on a smaller displacement, moderately cammed combo. 10 HP, maybe 15 at best, and most of that near the top end of the RPM range where you won't notice it much. With a bigger cam and the forthcoming FAST intake, things might be different, of course.