350 horsepower from a 3 v twelve engines bodged together (called multibanking). This is usually a bad sign for a tank. It adds lots of complexities due to having duplicated parts so lots more to go wrong and having convoluted systems for things like power (the accelerator rod will have to go to 3 carburettors, they will be an utter pain to keep at the same power levels, it will be a horrible complex engine to repair, the transmissions will likely be a lot more junctions to connect the crank shafts etc.
It has been done successfully. The Vauxhall put two engines together for Churchill, and Chrysler put together a 5 inline engine into one big one while their factory was knocking out Shermans before Ford could deliver their big new engine for the tank, you can see it here:
View attachment 256464View attachment 256466
(Chrysler A57)
Likely the Australian tank would have been horribly underpowered and difficult to maintain. Also it would have likely been buggy as hell. Everybody made lots of mistakes or compromised machines in their first few tanks. The idea that Australia could just knock it out the park sticking 3 truck engines together into their first tank is very unlikely. They seem to have had the advantage of using the M3 (Lee\Grant) drive train, so some of the usual problems would have been fixed. But its a lot of effort to produce something that was dated on arrival. And to what purpose? America was deluging the world with Shermans and offering them at 10% cost under Lend Lease. If you were using them for North Africa\Italy that made a whole load more sense than some expensive local built, much weaker tank. If you were building them for the Pacific Theatre of Operations, then tanks were not really needed except as assault guns. You would have been far better turning the chassis as a self propelled field gun or a big hitting assault gun to batter pill boxes and fox holes. In that case the Churchill was perfect for the job, masses of armour, excellent manoeuvrability and great hill climbing, if as slow as a glacier.
It looks like a politician dreamed up a solution and the Australian army was being asked to find a problem for it to fix.