I think it would be a very good ballpark figure so long as the dyno runs were in similar conditions on the same dyno. Crunching the numbers (my baseline was 270 as well), the shop told me my car was putting down around 360-370 at the crank and it was in line with the calculation.
I kind of like this guesstimate method because it takes out dyno queen and heart breaker numbers and illustrates a more accurate representation.
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Old Car:GTM TSC'd 550whp / 410lbft tq @ 11.88PSI
New Car: Under Construction
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