Sorry but your wrong. A TRUE uncut sheet straight off the press was 264 cards. here is an example of a 1966 one, Topps would then cut them in half for easier handling:
As you can see rows 1 thru 4 on the left side are repeated in rows 9 thru 12 on the left side and then in rows 5 thru 8 on the right half. Rows 5 thru 8 on the left side are repeated in rows 1 - 4 AND 9 thru 12 on the right side.
This is exactly how the 80/81 cards were printed for lets call the first run. 88 unique cards. Then they rearranged the cards and printed them again, another 88 unique cards. 88+88 = 176