You wouldn't really need a SO, unless your are racing - as mentioned.
My buddy in Germany (= highway driving at 160mph+ from time to time!) does a quarter mile in 10.6s with a 428 CO and quite moderate power (solid lifter roller cam). Max rpm not much above 6.000.
I won't tell the power / torque numbers, else we start a complete different debate. And he does not change the differential for 1/4 mile events. Just puts on sliks.
The Chev aluminium Can-Am engine blocks were top oilers too (in comparison to the LS-7 454). However, the Can-Am typically reduced
oil flow to the lifters to keep it down, and - of course - had dry sump.
Dry sump is needed when you are on sliks and g-forces keep the
oil off the pick up.
For the occasional sprint with your 427 CO, get a decent sump to keep
oil at the pump. You will get to 1g when you accelerate!