What style windage tray do you suggest? I've got a 468 going together and need to pick which pan, scraper, and tray to use.
Each engine has it's own "best configuration", so it's difficult to say without knowing exactly what you have and what it's use will be. We run a Billet Fabrication 2 piece pan in the race engine and the windage tray is basically a flat sheet of alumium with louvers in it that covers the entire width & length of the pan. The first tray we used was primarily just a screen type but this one yielded noticeable more HP.
On my 510" mostly street engine I used a Stef's pan that had a windage tray and crank scraper but it was of different design. You will find each vendor has their own ideas and designs on pan/tray/scraper designs. For my 510ci engine I called Stef's, told them what I had and they put together the pan/scraper, windage tray package for me. They also added a double layer bottom on the pan which was nice since they aluminum and you don't have to worry about setting the engine directly on the ground etc. when it's out of the car.
To answer your question about added horsepower the answer is yes, anything to prevent "oil roping" is free horsepower. There are things you can do in the lifter valley area to help prevent roping as well. If this is a street engine or "mostly" street engine, I wouldn't be too concerned about any of it, but if you want to do it, call Stef's or Billet Fabrication, tell them what you are doing and have them put it all together for you. They are the professionals and know what works and what doesn't for their style pans.