It's hard to say if this is speculation, or actually works. A 4.9L engine has quite a bit more displacement, and they're only getting .5hp per cylinder. It could have been because it has fresh plugs, not because they were indexed. I think if you had extended reach plugs, it raises your compression ratio, and will probably give you more power because of it. All of this could show up as a couple hp on the dyno, but then again, a dyno run can vary up to two hp per run because of changed conditions.
I'm trying to picture how it would all occur in the combustion chamber: the valves opening, and they cylinder filling, and I think the plug electrode is so small, and it's in between and away from the valves, that I can't picture it interfering with the airflow. Oh well. Try it anyway, and let us know how it goes....
To do this accurately, you're going to have to dyno your car as is, dyno it with fresh plugs, then dyno it with indexed plugs. You wouldn't want to be mislead by fresh plugs appearing to give you the power indexing was supposed to....