Suggestions for FE 428 specs

[kevins2]

I'm working through the details of an FE428 for the ERA 427 I have a deposit on. I don't plan to track the car so it will just be driven on the streets - 1,000's of miles of twisties and back roads where I live. My starting point is Keith Craft's FE 428 street crate:

•Horsepower: 550 hp
•Torque: 550 ft/lbs
•Block: Fully Machined Production Block
•Crankshaft: Scat or Eagle Cast Steel
•Stroke: 4.250" or 4.375"
•Connecting Rods: Scat or Eagle I-Beam 6.700"
•Pistons: Diamond Forged
•Timing Chain: Ford Motorsport Double Roller
•Camshaft: Comp Cams Custom Hydraulic Roller
•Lifters: Hydraulic Roller
•Cylinder Heads: Edelbrock Stage II CNC
•Valves: SI 2.09/1.75
•Rocker Arms: T&D Roller
•Intake: Edelbrock Performer RPM Port Matched
•Waterpump: Edelbrock Aluminum
•Carburetor: Quick Fuel 780cfm
•Valve Covers: Keith Craft Logo w/Breather
•Wire Looms: Smoothie
•Oil Pump: Melling High Volume
•Oil Pan: Moroso Front Sump
•Balancer: Pioneer SFI
•Ignition: MSD Distributor w/Keith Craft Logo Moroso Plug Wires
•Gaskets: Felpro
•Fasteners: ARP
•Oil: 1 Case Joe Gibbs Hot Rod
•Compression: 10:1
•Fuel: Premium Unleaded Only
•Firing Order: 1-5-4-2-6-3-7-8
•Timing: 39 Degrees @ Full Advance
•Oil: 10w-30 or 15w-50 Joe Gibbs Hot Rod
•Max RPM: 6200

I think 550 hp is a bit more than I need in a street car, so I was thinking of taking that down to 450 - 485 hp. Experienced engine builders like Keith Craft can pretty much hit any target. I know mentioning an FE and gas mileage in the same sentence is always good for some laughs, but I'm wondering what I'll actually gain in fuel economy by giving up the 65 - 100 hp. Does anyone have any first-hand experience with that? All I keep reading is 8 mpg with an FE428, no matter what, so maybe I'd be giving up performance for very little gain in fuel economy. To round out the drive-train picture, I'll be using a Tremec 600 and Peter at ERA has suggested a 3.31 rear for the best of both worlds for street driving. Also, to tame this engine down to the 450 - 485 mark, what changes would you make to the specs above? So far, I've thought of a milder cam, lowering the compression just a bit and perhaps eliminating the CNC porting. I've only done minor tinkering with cars (change out water pump, set timing and dwell...) so I have a lot to learn and appreciate all the experience on this forum.

Regards,

Kevin