Good questions and notation Jbody.

From the author;

"They were on a different 408 and made 640 hp. I don't want to get as crazy, but don't want to kill it right away. It will be used in my pro street satellite, mostly street, but some 1/8 mile passes"

This, to me, suggests the use of forged rotating parts would be the route to travel.

Food for thought & consideration, as well as a question. What was previous HP level in what size engine you drive how long ago in what car? Equipped with what size cam, trans, stall, gear, tire size?

This answer would paint a picture of what was. Helpful info?
Possibly.

Then there is the important question of;

Where do you want to go with this 400+ cubic inch W2 headed build?
What power level? If you can put a finger on it that is.....
500, 525, 550 hp?
Or how fast ET wise you want to travel at!
This maybe the toughest question for some to answer, for others, EZ as pie.
Knowing the cars equipment, trans gear suspension etc.... would help a lot.
When all this info is in, well the idea can come together a lot quicker.