Congrats on your purchase! I too, have a 427 s/o from Bill @ SA and it's a great street motor. Later, if you start looking for a little more power, you can always do some head work. My Edelbrock heads are ported with SS oversize valves (2.19/1.73 to 2.25/1.75 intake/exhaust), Comp/Dove Alum Competition Rocker Arm assembly (includes Billet rocker arm shafts, alum roller rockers, alum spacers and end stands, chrome moly pushrods -all of which you can order from Bill), port matched to a Performer RPM intake. I'm around 540hp w/ 10.0-1 comp.
If you want even MORE, send your heads into Keith Craft for some of his port work. I've been told that he could take my FE to well over 600hp. The only reason I'm holding off is that I'm considering going with an alum. block as well and may sell my entire engine and go with all new parts. Of course, if I end up buying a new engine............I may as well buy a new Cobra to put it in (perhaps a color change........I don't know........).
And the Cobra madness continues............!
What crank comes with the FE off their website? Mine has Eagle H-beam rods with a nodular iron offset-ground crank w/ 4.125" stroke. This crank uses BBC journals so oiling issues are non-existent. Keith Black custom pistons and a custom ground Reed cam.
Bill builds a hell of a good engine.
As stated earlier, ask Bill to get you a K&N filter for your Stellings air cleaner. The stellings filter is too restrictive, but the real HP robber is the Turkey Pan. I've seen dyno sheets as much as 30hp difference without the pan on...............but it looks cool, so I polish it and put it on for shows.
If you want to get under Bill's skin, ask him to install helicoils in all the bolt holes on your alum heads! -He'll know who's engine you're talking about!