As far as the smog pump goes, it will certainly clean up your engine compartment by removing it, the bracket, and the hoses. However, the amount of horsepower you gain is about as much as if you had rotten floorboards and used your feet to help propel the car like Freddy Flintstone. Despite the system's simplicity, it actually does a fairly good job cleaning up your emissions.

Also, I would not recommend removing the PCV system. It helps atmospheric pressure balance within your engine. I don't know what else you might have, EGR, ect...but horsepower gains will not be as much as you would think by removing them. Sorry for such a downer response...

 

On my 73' I got rid of the smog pump, EGr and all the appropriate junk that goes with them both. There are a lot of valves and solenoids that work with these systems... The only things you really need to keep are the PCV valve and ignition advance brake power booster vacuum hoses, everything else can go.