It's great that you made this statement since now we know you're talking out your ass. He can't do the math since you're using ricer math and adding up the magical HP numbers on products.
The 5.3L is not under rated from the factory. It has 303HP at the CRANK stock. This is verified by tons of the 2006+ Impala SS owners at NAIOA who have had their car dyno'd and get about 245-250HP at the wheels. This is the stock base line. FYI, there is no way to dyno your car at the crank (like you're claiming with the numbers you're quoting) without pulling the engine. No one who knows anything about cars refers to the crank HP. All that matters is what is going to the wheels.
You do not get those kinds of gains from tunes, catbacks, and from silly sensors. Produce a dyno sheet and disappoint yourself. A modded out 5.3L with ported/polished heads, cam, exhaust upgrades, and a good tune put down 278HP at the WHEELS (which is an estimated 346.25 crank HP). You can see the dyno yourself here: