In this paper, we numerically investigated the optimum pump light power best compensating for pulse distortion due to both chromatic dispersion and self phase modulation (SPM) as a function of channel input power in 8 channel ${\times}$ 40 Gbps wavelength division multiplexing (WDM systems. Also we investigated the allowable maximum channel input power dependence on modulation format and fiber dispersion coefficient in the various pump light power of OPC. The considered WDM transmission system is based on path-averaged intensity approximation (PAIA) mid-span spectral inversion (MSSI) compensation method, which has highly-nonlinear dispersion shifted fiber (HNL-SDF) as nonlinear medium of optical phase conjugator (OPC) in the mid-way of total transmission line. We confirmed that optimal pump light power of HNL-DSF OPC depend on modulation format, initial channel input power, total transmission length and fiber dispersion. But optimal pump light power of HNL-DSF OPC must be selected to make power conversion ratio to almost unity. And we confirmed that, if we allow a 1 dB eye opening penalty (EOP), the tolerable maximum channel input power is increased by using RZ than NRZ as modulation format when pump light power of HNL-DSF OPC is not optimal value but another values.