I read on the webpage for (I think) Diesel Injection of Pittsburg (or maybe TST?), that in stock form, the 12v 5. 9 engines made roughly 10hp per psi; 8. 3 about 15hp/psi. That changes even with exhaust housing swaps.
So, if you have a stock head (I doubt Jim Fulmer's is stock), a stock H1C turbo, (and intercooler), and are making 24psi boost, it is safe to say you are in the neighborhood of 220-250hp. Where that is depends on housing size to an extent. Smaller moves the power closer to the engine; larger back to the wheels.
Now, if you are like me, and running 34-38psi through a stock H1C, and a 14cm housing, it is more likely 270-300 at the flywheel. One has to consider the efficiency map of the turbo. My 91 (nonIC) could peg the 40psi gauge in 3-5th gears, and I doubt it cleared 300RWHP. MAYBE flywheel on a really good cold day on good #2 fuel.
Joe Donnelly made 800hp with <50psi didnt he? Seems like I remember reading that. But, he had done some extensive porting, which reduces resistance, and gives more MASS of air per psi boost.
Daniel