I see that we don't have a 700 hp baseline in the archives so I figured I'd take a stab at it. I'm sure it can be done many different ways but this seems to be a fairly cost effective method:

RB block 4.350 bore
4.250 crank with 2.200 pins
6.800 Chevy rods
12.5 CR. (Diamond flat top shelf piston at zero deck)
Indy EZ heads with CNC porting by Modern Cylinder Head
Indy 440-3 intake or 440-2 with 4500 adapter
1050 Dominator carb
Flat tappet cam about the size of a MP .620
2 inch headers

Torque peak should be around 5200 rpm with power peak around 6200 rpm.