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Ok, but the bottom line is this is a half ass budget build. I wasn't aware that there were such crappy piston choices for 383's and that 906's were essentially useless.

My setup, with the parts I listed, with a block that's been zero decked, KB flat tops (with the 5cc or whatever size valve reliefs), closed chamber 84 cc Edelbrock heads and a .039ish head gasket sounds like it should make decent compression and quench. Does that sound about right? I'm just hoping for a decent street motor.

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What is your definition of DECENT COMPRESSION ?

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I think you know more about it than I do, but I was thinking 9.5-1?

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The specs you give above ASSuMEing a 4.280 bore , 6cc valve canyon and a .041 head gasket , not sure what gasket is .039 , gets you 8.85 , .039 gasket is 8.88, 5cc/.041 - 8.92, 5cc/.039 - 8.96, you need to cut the heads to 76cc to get your 9.5, the 162 just plain sucks for the intended application.

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The 162's are out of the question as you stated, unless used with an UNDER 78cc closed chamber type head (516's or early 60' 413's - non M-W's). The kb 400
works well with an 80 - 86 cc aluminum head, OR the "516" iron head (with larger valves) depending on how "strong" of a 383 you want!! The 375-400 hp level is easy, it's
when you break the 475-500 hp level things start to get lot tougher (for streetability).