Before you do anything else on the block have it sonic tested by a good shop, make sure it will have at least .140 wall thickness after boring and honing on both the major and minor thrust surfaces
On the camshaft , do you want a mild street cam with hydraulic lifters or solid flat tappets or are you willing to use a custom ground solid roller cam and lifters?
On the rocker arm assembly buy the best out there,(don't go cheaap ) T&D single shaft 1.6 or bigger ratio or a set of Harland Sharp 1.6 or bigger ratio so you can use them with any cam and lift you like now or later
Does TF offer a 4500 flange low deck intake ? If so buy it and use 1050 CFM or larger Dominator flange carb.
If they don't offer the 4500 intake buy the 4150 flange intake and buy a 1000 CFM or larger 4150 carb.
BTW, those rear tires might not handle the new power from the 512 C.I. low deck AKA
This combination of parts assembled correctly, degree the cam, make sure all eight cylinder have the same compression ratio, same deck heights and so on will make north of 700 HP with 10.5 to1 compression on todays 92 octane pump swill
Let us know on the type of cam and lifters and how big at .050 your willing to use