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I would go to the C4 tech/performance section with this question. The general answer is yes, you can build it to 400hp. The C4 guys will probably know how to do this cheaply.
Advanced induction is basically the go to people for LT1 top end stuff. They have tested packages that could easily make 400+rwhp. Just depends on how much you're willing to spend. I plan on eventually having them do my 95z heads when I stop spending money on my C5Z.
I just read this whole thread! WOW! That is a really nice build. I have a 96 I am working on and only wish it would end up like that.
I love that steering wheel and would love to put one like that on mine. Is there something special you have to do when removing the old one due to Airbag?