We have a couple of 408W in our group making 525 flywheel horsepower with less than 10:1 compression. Check with Keith Craft if you want to buy a motor.
http://keithcraft.com/index.html?404...om/default.asp
or do I like did. I told him I wanted a 302 stroked to 354 fuel injected street motor for my Cobra. I did not want to be embarrassed at the stop light by a Corvette but did not want a race motor. I bought the heads and cam from him. Motor makes 402 rear wheel horsepower and 416 tq. That's about 500 at the flywheel. It's the best cruising motor I've had. Lots of low end torque and fast.
I could have bought the whole motor from him for what I paid for the rest of the parts not counting my time.
With the crappie gas we have today I would think you want to stay around 9 to 1 compression. Keith has build two FE's for a couple of our guys and they are 9 to 1 motors. Over 600 horsepower each and very, very streetable on 93 octane gas.
Dwight