I think, given the lack of budget and ****py intake, I'm going to suggest a different route. Keep the peanut plug heads. They aren't half as bad as many would like to say. Without a stout bottom end, you're not going to twist this motor to high RPM anyway. Those heads will support 500HP so at this budget level they will be fine. Rebuild the bottom end using common sense, good machining and quality parts. With good pistons, go for around 9.5 - 10:1 compression. Balance everything. Stock rods will be fine with good bolts (ARP). Put in a Hi Volume Melling oil pump. Now go get a good single 4 barrel manifold like an Edelbrock Air Gap and a Holley or Edelbrock 750. Don't worry about the port mismatch, it won't matter. Use a good electronic distributor like PerTronix Plug and Play (less money then a MSD setup and much better than an HEI). With a good set of headers, and the cam you have, you should have between 405-500 HP and more importantly 550-600 Ft Lbs of torque. Forget things like dual carbs that will only shoot your budget. If you are serious about racing this thing on your stated budget, this will get you a stout motor that will run hard and be reliable.
I think the low performance 427's 385, 390 and 400 horsepower versions all had cast iron cranks... I could be wrong...
Nope! They were rated @ 430 hp... Not sure about the torque figures... The dyno told a very different story..
and I have made that kind of power with a budget oval port, TRW piston, 2-bolt main 427, with the heads done the way I described earlier. Guess I should add, it didnt have a Comp Cams "thumpr" cam in it.
Early big blocks all had steel cranks, that includes the low perf engines. Somewhere around 69 they went to cast cranks. iirc
I just got done reading up on a bunch of articles on the net and they all stated that the "lo-po" big block cranks from '66 onward were cast iron...
The Bill Fisher book (written in the early 70s). says the steel crank was used in all 396s thru 67. I have a 67 325 hp 396 that came with a steel crank, I got the engine over 30 years ago. But the internet could be right, I suppose.