The link above is a good one. As far as my experience, below is a combo a friend of mine had built and dynoed.
cleaned up 2.19 1.88 valve 049's (flowed 290 max)
port matched victor Jr
242 248 @.050 .600 lift hyd roller
dynoed at 560 hp at 6100 RPM and 560 ft lbs.
I would go with the oval heads without any doubt. I beleive that they will make more average hp and probably more peak power also. The motor looks like it should do well but may not be quite 550 with the size of your cam. I think you would need something a little bigger. I guess your duration at .050 is somewhere is the high 230's to low 240's based on the lift. To get the hp you are after, I would look at something in the low to mid 250's @.050 duration and .600-.650 lift and a 3500-4000 stall being that you have 11:1 compression. One other thing to think about, 11:1 seems a little high for iron heads. Can you give the rest of the specs on your cam?
Another thing, even with the larger cam which might put you around 575 hp, I dont think that will be enough to get you the ET you are after by its self. The ET calculator below should give you an idea of what you need to get a mid to low 10.
Assuming 3400 lbs with the driver, in order to get a mid 10, you would need around 575 at the wheels. If you assume a 20% loss to the wheels, you would be looking at needing ~720 hp at the motor. As for a 10 flat, you would need around 675 at the wheels which would be around 850 at the motor. All this assumes that the car hooks and the chassis performs well. It takes a lot to get a mid to low 10.
I would guess that your motor would probably be in the ~530 range with the oval heads and the cam you currently have. This would be around 425 at the wheels assuming a 20% loss which comes out to a ~11.7 in the 1/4. If you went with the larger cam, 575 at the motor would be ~460 at the wheels and ~11.4 in the 1/4.
You could always run a 150 shot on the motor. That may get you closer to what you are after.