I recently built up a 550 fanner in a backcountry. Its basically the 503 with a bigger bore and reeds instead of piston port.
Stock it dynoed at 60
Split Second did the engine work for me
NPP custom single pipe
Bored 30mm carbs out to 31.5 if I remember right
Dynoed 80hp on same dyno. It works awesome, but it was alot of work.
You're going to be hard pressed to make more than that. Lots of guys will promise you they can, they are either straight up lying or it will make more...for about 30 seconds until it gets too warm.
Fan engines cannot be overbuilt because they cannot get rid of the heat quick enough. If you are going to use nitrous (proper name for NOS) you should leave it stock, otherwise you will have BIG heat issues. Even with just nitrous, you will be looking for trouble.
If its in a snowhawk, the first thing you gotta do is get a TRA or P-85 clutch. Any engine that has some work done to it will struggle with the junker stock clutch. I've been there. It doesnt work. I run a TRA on the one we built. You need to find an old school TRA with the different taper. Back when SKI-DOO wasnt so cheap, they used them on the smaller sleds, like in 98 or so. Thats the clutch you need to find.
good luck