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400 HP is pretty easy today with a small block. Won't have to upgrade your drivetrain. I would start with a new GM factory roller block for under $1000. recondition your crank and rods, Might be able to reuse pistons, 2 piece seal adapter, hone block to size, Brodix IK 180 heads. 64 CC if you reuse the dish pistons, 70 CC with flat tops to get right around 10 to 1 compression. Edlebrock RPM intake. Your carb rebuilt and a set of headers with true duals or Hooker sidepipes with maxflo's. HEI ignition. Your at or over your power goal pretty cheap. http://www.compcams.com/Cam_Specs/Ca...?csid=188&sb=2
This combo would work pretty well with a manual trans and a 336 or lower gear. If you have an automatic and/ or 308 rear you might want to drop compression a little and go the next size smaller on the cam. There are a thousand different ways to do it but this is a pretty solid street build if you already have the SB components.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.