The V&H header was made for the gen2 Busa, it just happens to work on the gen1 also.
The V&H's biggest improvement over stock is eliminating the gen2's catalytic converter.
There have been a couple gen2's dyno tuned and posted here with the V&H header and different slipons.
The dyno numbers and power curve were right in the ballpark with most dyno tuned full exhausts.
Keeping in mind that all tuners and dynos are different too.
I know this isn't a direct answer to your question, but don't expect anything extra or unusual out of the V&H.
As for dragracing, you'de likely be much better staying with an exhaust designed specifically for that, like an Alienhead, or header with a full side exit pipe.
The V&H is a good header if you just want aftermarket full dual exhaust