Depends on what you use when building it. I just did a 408 for mine, it's not teh most aggressive combo out there but it should made soem real decent power. I'm hoping close to 500rwhp+ but there is no way I'd want to drive it daily. Too much convertor and it just sounds angry, should make for a killer play toy though.
Seeing how your power goal is less you could go conservative on some parts and try to retain some decent drivability if you keep the EFI.
I don't see why it couldn't be done with a well thought out combo.
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