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The high command (the wife) has finally succumbed to the constant nagging from my daughter, myself and grandpa (in that order) to allow us to undertake a 3-generation family build of a FF MKIII Roadster for street use (target: low to mid 400's HP, and about 450 torque, no drag, and only very seldom track usage).
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As others and Barry R. have said, the 390 is the way to go, you can build a nice looking 390 to meet and exceeds your hp/tq. requirements for the price of a 427 block!!!!!!!!!!!!!!!!!!!!!
You can also build a nice small block, stroked or otherwise and add the pentroof FE looking valve covers and 99.99346712% of the people looking at it in a Cobra would think it is an FE motor!!!!!!!!!!!!!
David