FE engine choices - down to two

[lippy]

I ordered an ERA 427 and expect it to be delivered in Oct or Nov. I am pretty much down to two FE engine options:

(1) Pond/aluminum 427/482 SO with Edelbrock heads (CNC ported), Scat cast crank, Scat H-beam rods, and excellent components/build throughout. It would be roughly 600/600.

(2) I have an option to buy from a very reputable seller a newly completed engine built by a top builder. It is an original and previously unbored 427/454 SO with Shelby heads, a steel crank, and a sidewinder intake. I don't have the details on all of the other components but I will get them soon. Power is likely 500/500. Lets assume the cost and quality of the build is the same as (1).

The advantages of (1) are lower weight, more power and torque, and less maintenance because it's hydraulic. The advantages of (2) are originality, cosmetics, and the great sound of a solid lifter engine. Since I am in California, there may also be an advantage of an original block in the registration process (may not need to do SB100).

This will be a street car only driven 1,500 miles per year, +/-, and rarely if ever raced. I want the car to be original looking, but not necessarily correct down to every nut and bolt. Lastly, I sort of think even 500/500 in a 2400# car is borderline insane - even with good tires like Avons.

What do you think between these two options, and why? Any info on CA registration, SB100 vs 1965 block also would be appreciated.

Thanks!
-Lippy