Good question - I'm not sure there is a set formula as different dyno's would be slightly different.
There have been posts of back to back runs with a gear swap - and the steeper gears lose power on the dyno - which drives people crazy - because they have the OPPOSITE effect on the road - as you know!
The car will feel (and be) a LOT quicker thru the gears with the 3.7's than with the 3.07's. It may not do better 0-60, or even 1/4 mile times because of the extra gear changes - but the acceleration in each gear will be significantly better.
Stating the obvious I know - but this was for the benefit of those that are confused by rolling road dyno figures that drop off when you run steeper gears - it's not real world power loss.