It will work... meaning that it will fit your engine. As far as improvements, you really need to be revving higher than the stock shift points to really feel the effects of the HVII. Talk to Mike (95naSTA) about them, as he ran the previous generation of the HVII on his '95.
From what I've seen, I think you would want to have your shift points and rev limiter raised to optimise this mod. It may also be worth it to add rockers to complement the HVII. I'm sure you would still feel the increased top end pull on a stock motor with the insert, but you have to realize it effectively cuts your intake runner length. This means you'll sacrifice bottom end power for top end power. Without running a modified PCM/chip and optimizing for higher revs, it may not be worth it quite yet.
EDIT: After reading a bit more closely, I see they've made it more conducive to stock PCM tuning. However, you're still dealing with shorter than stock runners, meaning the power will still be made at higher RPM. I guess until real world numbers are seen, I can't make an accurate statement as to the amount of top end favor produced by the new HVII.
1997 SE w/SLE package
"White curse? I think it'* more like.... WHITE FURY!" - MyLittleBlackBird