As Mike says, cam only or head and cam will do it, though your exhaust must be good.
These motors are pretty tough, personally I wouldn't worry about pulling it apart. Mikes advice on the
oil pump for LS1's (not the later LS6) sounds like good advice.
If I was going to pull it down I wouldn't put the stock crank back in, after all, there's no substitute for cubic inches.
I will be running mine unopened for a fair while, but when it does get opened it will be angry, real angry...
My Ute makes around 340 rwhp, which equates to roughly 430 flywheel hp. That is unopened, with the standard intake manifold, running big serpentine belts for power steering, a/c etc.
Realistically, you'll only need to make around 400 rwhp (300 rwkw) to achieve your goal of 500 flywheel hp.
Disclaimer: Converting rear wheel power to flywheel power is not an exact science, I really only care about power at the wheels or ET's at the strip!!!
