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Most of the power gains from any of these pulleys is from the lower weight, not the underdrive effect. The UR website has a white-paper on this explaining the details.
I have them, they don't offer very much in the form of extra power like they do on...lets say an LS1. But it is a little bit more. They biggest advantage is the decrease in rotational mass which allows for a noticeably quicker rev speed. I like them, plus its a pretty blue....um.... I didn't say that....
one thing to consider is that the stock steel pulley is 5 lbs. heavier than the much lighter one piece UR pulley, the stock pulley is actually welded together from two pieces.