Unless you already have the aluminum heads, I would find a set of closed chamber 396/427 oval port heads for cheap and build them up nice. That along with a shim head gasket will probably get you a little over 9:1 compression with flat tops. It would make for a hard running engine with a good cam.
If you run a turbo 350, make sure it has a hardened sprag gear or that 454 will eat it for lunch.
If you run a turbo 350, make sure it has a hardened sprag gear or that 454 will eat it for lunch.