An F22 with the compression bumped to 11:1 and some head work is not magically going to gain over 50 horsepower at the wheels. It's just not going to happen. Your formula in theory can be used to make some rough predictions but when it comes down to it, you just don't make that much more power with that kind of modification level.

A stock F22 non-VTEC motor will put about 120-125 hp to the wheel. Figure that foes to 135 with bolt ons. Compression bump and head work, 145 to 150 tops. With a hot cam you could perhaps reach 165-170.