Not Ranked
You stated that you are going to race it....in that case do not do the 427, it is heavy and has loads of torque - not race track friendly. You want an engine that will rev for the track.
If you think that you will just be cruising around on the street and taking it to car shows then the 427 is the only way to go. In fact I would recommend a 428 - they look and perform almost identically.
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