Well . . . I can't help myself . . . I will always run a hot cam and 'Yes' it will reduce the torque/HP at low speed. But - I build HotRods, not stock engines . . . just the way I prefer them.
I think the suggestion of a mild stall in the converter is good and I think you can still get away with a somewhat lumpy cam - like a 1007B, which Pete can grind for you. It is always a trade-off, if you want a cam that makes horsepower at higher RPM, has that "lumpy rumpity rump" sound, then it is taking HP/Torque away at lower RPMs. Bigger cubic inches help the situation and having higher compression helps the situation (low speed driveability).
But Hey - a high-performance flathead is supposed to have that "drive in" sound if you ask me!