Decent piston
Crane R280 cam
Ported 452/906 heads
M1 w/adapter and a 1050
Compression 14:1 +
Good machine work and a little attention to details
Keep the timing in check and live with the minimal cap walk.

Hardly 12k, more like 3k (assuming you have a carb and can do some work yourself), and will exceed your ET expectations. More perf should be expected with a set of heads, but not necessary.

Good Luck