Ford followed a 'golden rule' of basic engine design when they built the 427. Big bore, short stroke, like Porsche and many others have ALWAYS used. While in todays modern technology world it could be argued which is best, that basic rule (big bore, short stroke) still holds true.
Such an engine will fundamentally get to a given rpm quicker than a long stroke smaller bore design. So why are manufacturers now going to smaller bore and bigger stroke? It's easier to control EMISSIONS and generally speaking a lower rpm operating range (read that long stroke) makes better mpg. The fact that some modern engines perform excedingly well with a long stroke\small bore is a result of better head\cam\fuel control. NOT basic design! Same engine with a shorter stroke would do even better!
A 'square' design, same stroke and bore (283 Chebbie was such a motor), could also be argued to the best design, 327 was a longer stroke. The debate will never end...
Look at all the great race engines around, the basic rule of big bore\short stroke STILL holds true.
I would NOT run a small block bored and stroked to excessive (in my opinion) numbers, like a 427 Windsor. Just TO stressed for me.