im thinking of going race only with my hornet, i dont drive it on the street anymore and want to maximize my combo..
my engine is a 67 440, 030 forged flattop pistons, zero deck height, eddy perf rpm heads, cleaned up and milled to 79cc, perf rpm dual plain manif. 850 holley dp, ultradyne solid 582 lift, 282 @050, stock steel rods and steel crank, arp rod and main bolts, 727 trans, with 2000 converter, 9 inch rear with 4.11 and a spool, 75 shot of nitrous, its been 10.83 @124 mph 1.55 60 ft, but thats hitting the nitrous from the line cause i dont have enough converter.. i have access to a ptc 5000 converter and m1 open plenum manifold, my question is ive been shifting at 5500 cause i want it to last a lil while, will 5000 converter be too much? and with the m1 will my shift points be over 6000? i really want this engine to hold together and i am confident that my 5500 shift point is a good point..

Probably way too much.
Pick the converter for what you have for the best results.
The M-1 would move the power band upwards.
It sounds like you have a fairly decent running deal now and a converter would be my next step to knock the 60' times down.
But you'll be a lot happier with one tailored for your combination.

If the cam is truly 280 at .050 intake duration, you will need a very high stall converter. A converter said to be 5000 stall may be very close, but it depends on the engine torque. A big block will stall the same converter much higher than a small block. In your case, if you upgrade all the parts around the cam, and are willing to run it at the right rpm, then you will need AT LEAST a 5,000 stall, but only normally aspirated. The more nitrous you put in the motor, the tighter the converter needs to be to get back to the right stall rpm. AS long as you are only putting in a 75 hp shot, it is only adding about 100 ft lbs of torque to the combo if you start it at say 4,000 rpm. The higher you add the nitrous, the lower the torque the motor sees. The lower you start it, the more torque it sees.
A general rule of thumb on picking a converter is pick one that will stall about 1300 rpm below the shift point. So if you are willing to set the motor up to run 6500 rpm, then 5200 rpm flash stall behind your motor will usually give you the best results. The cam you have probably has an rpm range of 5,000 to about 6800 rpm with a single plane intake, the right headers, etc.
There are a lot more things to consider though in the tranny. Is this a reverse manual race trans? If not it should be, with the right clutch drum, better sprag, stronger band strut, among some of the things that make them work, and work safely.
One last thought. If those rods are good, then you shouldn't have much trouble at 6500 rpm or less, normally aspirated. You state you are confident in a 5500 rpm shift point. Your cam is designed for a lot more, and the torque comes in from about 4600 rpm on up. That is why you have been OK using the nitrous down low so far, it covered up the lack of torque down there. A 75 hp shot may be adding as much as 200 ft lbs of torque at the stall of the stock converter. If you activate nitrous at very low rpm, keep in mind that is what scatters engines, because the cylinder pressure goes WAY up with the right cam. You are getting away with it because you have the wrong cam, with way too much duration for that rpm, and not much cylinder pressure down there as a result.

I knew the cam was too large when i built this engine, but i literally built this engine from parts that were left overs from friends, i originally started with a 9inch converter, but it only would stall 2500, then i broke the trans and when i put it back in i used a 2000 cause its all i had at the time, i really love this camshaft so if i need to upgrade around it to maximize it i will, with the right intake and converter i really wont need the nitrous.. at least thats what im hoping

o.k, a lil update, i searched around online and found the actual cam specs, its 282 advertised duration, 255 @050, 582 lift with 1.5 rocker.. not 282@050 like i was told.. how does that change the needed stall?