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Welcome to FTE KPK, and 85e150 is correct, you're not going to gain much, if anything... best bet is to swap in a 300 and go with Offy DP 4bbl intake and FI exh manifolds.
Are you looking for more power or cool factor? I swapped the 240 in my 6 to a 300, same 1bbl carb/exh and really only noticed a bit more pep, same mileage at 18 avg, seemed to pull hills better, but, on my previous 66 F250, I went .030 over, new cam, Offy intake, holley 390cfm 4bbl and Hedman DO headers to 2" out and THAT was an animal, a 300 sixer in an old truck animal, but still had a growl!
Stock 240/300 I wouldn't go over 400cfm regardless of 2 or 4bbl, I put a Holley 390cfm on a friends jeep with a 350 cheb in it, it had a 650cfm 🤦♂️ mileage doubled as did drivability and wheeling, everyone over carburates engines thinking it's the cats meow for performance, it's not.
I built-up a 300 gasser in 1996 for my '77 Ford F350 4x4 Crew.
It is punched .040 over with Hyper pistons approx 9:1 compression with Comp cam mid-range, Clifford intake and headers.
I am running a universal 600 Holley 4-bbl for Mid-Range rpm, and the rotating assembly was professionally balanced too.
The engine is no powerhouse, but I love the nostalgia of the prepped 300-six, and it runs great.
I can't remember what year block and head.
To get optimum performance, I tune the engine with a Vacuum Gauge.
Most off-the-shelf Holley 600's come stock with a 6.5 power valve, and I tossed it for a 9.5 power valve as the engine pulls 20-inches of vacuum at idle. Accel pump boosters can help eliminate low end stumble and hesitation.
In my '78 Ford Chateay club wagon, I'm running a balanced and preppped 429 which would be a good swap for you to perk up that pickup. LoL
I've got the stock 240 in my 65 and put the clifford intake with dual webers header exhaust and it runs amazing...so much more fun to drive and still gets decent gas mileage
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.