Like Basscatt said, a lot is in the tuning. An engine like yours, tuned properly, likely could crank out at least 300 hp itself. Additionaly, there's the massive technology difference as well. Gotta remember that your V8 is "merely" port injected. I believe (and correct me if I'm wrong) this means that there's an injector for each cylinder intake, at the beginning of each intake, and the fuel is squirted before the proper stroke.
The CTS, on the other hand, has sequential multi-port direct injection. This means that each cylinder has its own injector near the spark plug, and the squirt of gas is timed precisely for the proper stroke in the engine cycle (mixing I think). One of my wild ideas is to see if I couldn't find an old Northstar and retrofit it with some direct injection heads

If at all possible, imagine the power numbers! GM should totally bring back the ol' N* and fit it with direct injection.