do you have a '67? The traction bar was supposed to prevent wheel hop because both shocks were on the same side of the axle. In '68 and beyond they went to staggered shocks, one in front and one behind the axle. Since you have multi springs, that suggests that you have a '68 or 69. Can't tell from your photo. I believe the 'bird had a dual bar setup but i don't know that much about it. maybe someone else will speak up on that subject.
in any case, i can't believe that the '67 bar would be better than a regular traction "slapper" bar setup as i've seen them on all first gen cars, however i've never used them. I'm far too old to worry about too much hp.