Daniels assessment if pretty well right on. Here's the longer version. With FoMoCo coming out with two brand new engine designs for the 1958 model lineups, the Y-Block family of engines was relegated to grocery getter status. The last thing needed in 1958 was for a Y to actually outperform any of the new engine offerings. As such, all performance options for the Y went to the wayside and this was done quickly by lowering the compression ratio, reducing the rocker arm ratio, smaller camshafts, and only offering two barrel carbs for most Y applications.