Master Mongoose7 speaks truth.
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Grasshopper, you must have balance.
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The experience with my ERA tell's me it's extremely difficult to hook up much over 500 horse, I don't care what it cost you!
I was running the Goodyear Bill boards, a reasonably good traction tire that works well on the street or the track. My soild roller cam high compression side oiler was making over 600 horse, turned 11.90 ET on the drag strip. Was HELL to drive on the street. Rebuilt, reduced compression, smaller cam, smaller carbs, street friendly, run's on pump gas, DOUBLED the mpg. I estimate, actually Gessford Machine's George Anderson estimated, I gave up about a 150 horse power. Back to the track: 11.99 and a loss of about 3 mph trap speed. I was blown away! Unless you plan on running slicks and are seriously into the drag strip there is little point in going beyond 500 horse.
I'll take a Windsor based motor myself for a REASONABLE budget. I think the over all package (weight, size, potential mpg) is superior to a 385 series motor. Having the money, I'd go for a "de-tuned" SOHC 'cause they look so cool, but 700 horse is a waste of time.