In fairness to Rick and his original comments, I'm seeing a lot of comparisons to 150/150s rather than 150/180s which is the animal we are talking about here.
The weight and balance is likewise significantly different 180 v 150.
Dry weight of the O-320 is given at 244 pounds while the O-360 is given at 258 pounds so there should not be a drastic difference in weight and balance as with the almost 80 pound difference as compared to the O-200.
As a similar comparison, our hangar neighbor converted his 145HP O-300 equipped 170 to a 220HP Franklin w/constant speed prop............WOW! Now that really made an airplane out of the ol 170! I just cannot imagine adding an additional 30HP to the 150 wouldn't do the very same thing if set up properly?
Bill