The 429 CJ and SCJ is the unsung hero of the Ford big-block line-up as far as I'm concerned. There were more than 10,000 of the venerable 428 CJs made from 68-70 and those were great engines, no doubt.
The 428s get ALL the press and kudos in most magazines and in most casual enthusisast's conversations.
Ford pulled a trick with the 428s: Rated them at only 335 HP to try and fool the insurance companies. Everyone knew it was closer to 400 HP easily, so the engine was popular and sold well. That engine gained legendary status near immediately.
For various emissions-related reasons, as well as production and product need reasons, the "FE" series engines (428) were supplanted by the new and advanced "LIMA" 385-series engines (429/460).
Beginning life as a station wagon & luxo barge motor, the 429 came to life with little fan-fare. The 428 had several years of steady improvements up to famed "Cobra Jet" status, whereas the 429 CJ/SCJ came about only 2 years after the engine was introduced into the ford lineup.
To make matters worse, the standard "entry level" 429 was called the "Thunder Jet" and rated at 360 HP/ 480 tq. And that was a pretty reasonable raiting, close to its actual output.
By ordering up the motor in "CJ" status, you got plenty of specifically upgraded hardware: Heads with BIG valves and ports, a big-port manifold, a more aggresive cam, lifters, springs and rockers, better crank and higher-compression pistons, and a 700+ (735? 785? cant remember...) Quadrajet.
This was a little pricey, but it netted you an engine rated at 370 HP/ 450 tq.
What? All that hardware and work for a measly 10 HP? and it actually LOST 30 lbs of torque?
In my opinion, Ford's use of the "under reporting the horsepower" game worked against them this time. 370 is well below what most feel this engine produces...400+ being the accepted norm in most cases. But...370 was close enough to an actual reasonable (if a bit low) figure that most just thought it was accurate.
It was not.
Drive a 360 HP "TJ", then go drive a 370 HP "CJ" and tell me that there is only a 10 HP difference. Then tell me that there is LESS TORQUE than the "TJ".
The CJ was factory-rated at 11.3/1 and had a pretty aggressive cam for stock, but mediocre heads for such a big-breather.
When I rebuilt my CJ, I put 10.5/1 pistons in, a Comp-Cams Magnum 280 cam (a little milder than the stock CJ cam), and had 73 PI heads worked and installed. With a Edelbrock performer manifold, stock exhaust manifiolds w/ 2.5" exhaust and a Holley 750, along with a duraspark ignition.
The engine dyno'd at an easy 425 horses, with near 500 lbs torque.
It idles smoother, has better low-end performance and gets better mileage, but overall seems to produce about the same power.
No way is there a 55+ HP difference between then and now. I am sure it was over 400 stock.
Then, if you stepped up to SCJ status...with an eevn more aggressive cam and valvetrain, a bigger Holley carb...you got a whopping 5 HP increase. Really?
And then if you ordered Ram-Air, it netted you NO INCREASE in rated power.
The 429/460 engines were astoundingly durable and had bullet-proof construction and strong bottem end components.
CJ and SCJ 429s were only produced for 2 years, and only for a single year in Mustangs. Too bad...They were awesome engines, but just came a little too late to the party I think.