Having had a 406" 360 for a street Duster, I can say the torque was well worth it. Personally I prefer Eagle over Scat, but there are probably people who'll say the opposite.
I'd also have it internally balanced, which makes it easier to swap balancers and/or converters later. For a cam I went with an Engle dual-pattern hydraulic grind: 214/224 @ .050, .470/.504 lift, 4* advanced; Demonsizzler here on the board did up my Thermoquad; I used an Eddy Performer intake, and the car had perfect right-now throttle response, 17MPG @ 70MPH, ran A/C & power brakes without any issues. Stock converter, 3.21 gear, 275/60R15 tires, about 3400 lbs. I would do it again in a heartbeat. Never ran the car at the track, but it felt much stronger than my '97 Mustang GT.
Don't bore the block 'til you mic your pistons, and thicker walls are better IMO than the last .020 of bore size. Max CR with iron heads & 91 octane is 9.0:1 unless you pull advance out of the distributor curve.