I have a 180hp/CS converted 1963 P172D, using the Avcon conversion. While that's not a 170, some of my comments would also apply to a 170, I think.
I flight plan for 115 knots and 9.8 gph, which is always very, very close, running 21" and 2400 rpm. Experimenting with higher MP and lower rpm hasn't changed things much, other than to burn a little more fuel and run a little hotter, but not so much as to make a huge difference. 21" (or less if running at higher altitudes, of course) and 2400 rpm seems to be the "sweet spot", where my engine has the least vibration.
I had flap gap seals installed, which in my experience, do not interfere with the flaps in any way. They increased the TAS, which was 110 before they were installed. My airplane also has the very droopy Madras wingtips, which add quite a bit of low speed aileron control but which also add a lot of drag--good guess that the gap seals just return the TAS to what it would have been without the droopy tips. No other STOL mods, except for the bigger engine.
I did have the airplane re-rigged a couple of years ago, during its annual. That increased the TAS by about 2 knots.
Almost all of my flying is at elevations of 5000' MSL or above, with DA above 6000' typically, so my figures won't be as impressive as Tom's. Light (just me and dog, half tanks), I expect to be off the ground in about 700' or maybe less, without much effort. Running at gross (2350#), roughly twice that. At much higher density altitudes (coming off of Laramie at around 9000' DA) and gross weight, the roll has been around 2500'. That's with 4 adults and half tanks, or 3 adults and full tanks. I carry 52 gallons full. My few take-offs at lower elevations (annual trip to OSH, primarily), running nearly gross, the take-off runs have been well less than 1000'.
My engine threw a rod soon after I bought the airplane 8 1/2 years ago, and I landed in a field. The current engine is therefore almost all "new", built by Aircraft Cylinders & Engines in Greeley (it now has just under 500 hours on it). The only things salvageable were the exhaust and carb/intake, and the oil cooler which was rebuilt. Total cost was right at $23,000. At the same time, while the airplane was down, I had a lot of improvements made, including modernizing the electrical system. Empty weight has climbed over the years with all the additions and changes I've had done, although that went down recently when I had the old glideslope receiver pulled when I upgraded the panel.
For my purposes, my airplane has been nearly perfect. The only time I wish it would go faster is on the annual OSH trip. I sometimes wish it had more room, because loaded with camping gear and dog, it's pretty full although less than gross weight. I rarely carry 4 adults, so that hasn't been an issue, since I don't often have full tanks except right after refueling to get ready for a trip. For just flying around and enjoying being in the air, it's been great.
Cary