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Your plan sounds fine, but you can get the same results with a 408 without the rod angle issues. If this is going to be mainly a street car, the two bolt mains on the existing block should be fine. Install a good new set of ARP bolts after having the block align bored and you're good to go. If you really want to push it past the abilities of the 74 block, you should probably be looking at a Dart or other aftermarket big bore small block casting.
The Vic. Jr. or Torker intake will hurt your low end but will be great at the top end. If street manners are important with this engine, a dual plane manifold like the Edelbrock Air Gap, RPM Performer, or Weiand Stealth would be a better choice. You'll get better low end and much better street manners.
Vic. Jr. heads are an excellent choice for your purposes and the cam you've chosen. They come with springs good for .650 lift so you're good to go in that regard. A good roller rocker, like the Comp Pro Magnums will top them off nicely.
Are you planning on going to roller lifters? Since the 74 block is a flat tappet block you'll either have to use tie bar lifters or have the block slightly modified (a small amount of grinding around a couple lifter holes) to handle the stock style rollers and dogbones/spider. If you use the spider, drill the holes in the valley to hold it down before the machine work as they line up directly over the cam bearings and you can easily go through and damage your cam and/or cam bearings.
I'm sure you'll get lots of other great advice here on your choices.
Bob
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