Terry,
Interesting comment you made about the 428 being a quick hi rev engine. You have it turned around. the 427 makes the revs and the 428 the torque. both were used in original cobras. If you aren't' set on the 427, you can put a really healthy 428 together for about 1/4 what a 427 done right will cost. How does 400HP and 480 lbsft of torque and still run on pump gas sound? Also, they look the same under the hood. Especially if you use the right valve covers and intake manifold.
Also, parts for a 428 are a LOT easier to find and buy. No, they're not super common, but there are still some old Mercurys in junk yards with that engine. a 390 block with the "ribs" on the side will over bore to stock 428 bore. The crank is 410&428 only but available at about $500 for a good one. Heads are next. Yes you can buy aluminum heads and go ahead if you like. You can also take early 390 heads and put 428 valves in them and do it just fine. Intakes are another matter. Sidewinder manifolds are scarce unless someone is making them again. (Dove may be)
Use a stock med. riser solid lifter cam and you're ready to go with a 750cfm Holley. Built by the right person, the engine will live and scare the H.E. double hockey sticks out of you when you put your leg in it!
If you still want a 427, go for it. They're fun...I know. Center oilers have rods like a 428. A side oiler has big capscrew rods and forged steel crank. Most center oilers have cast cranks (same stroke as a 390) also and, you CAN NOT put a hydraulic lifer cam in a center oiler. No
oil galley to the lifters. Other than these differences, the center oiler is a good old motor. Just replace the valves with stainless and put ARP rod bolts in the rods. It will work just fine. Have any block you buy subject to magna fluxing before payment. They can all have internal cracks the eye can't spot as well as other things hidden under the paint or rust. Many blocks have been sleeved and this is another no-no for you, unless you buy it really cheap! .030" overbore is as much as either 427 block will stand. Remember, the 427 is the same dimensions as a 352/390 with same bore centers. They had to get that extra 1/4" from somewhere and it came out of the cylinder wall thickness. If it is already at .030", I personally would pass on it.
Hope this helps a little. I've been playing with these guys since they came out in the '60's.