Leo,
Nice looking Mach 1.
A few comments:
The 351C block is a thin-wall cast block. If you want to get as much horsepower to the rear wheels as possible, you should not bore to .030 oversize. At that size you'll start to blow holes in the cylinder walls under high horsepower. The best thing to do is have the block "sonic checked" for thickness. Then depending on how thick the walls are, you may need to have the cylinders "center-bored" which is setting up the machine for each cylinder based on it's centerline instead of cylinder spacing. This makes sure you take out material evenly, leaving the wall thickness the same around the circumference of the bore. Another good idea is to use a torque plate. This is a heavy steel plate that torques to the block just like a head, except it has holes to accommodate the boring bar. This pre-stresses the block while boring to get the holes true. If your engine builder tells you he can bore a 351C to .060 and still be fine, find another machinest. For a 400 hp build, you don't want to go even .030, though it's possible to still get a lot of horsepower and torque with a .030 over-bore, you run a higher risk of punching holes in the cylinder walls.
With that said, your best bet is to go .010, .015 or .020 over. Pistons are harder to get for the smaller size over-bores but -are- available. You will pay a premieum for them as well. The best thing to do is have a block that doesn't need to be bored at all.
In a 351C application, it is -NOT- recommended to run a high volume or a high pressure oil pump. Doing so will contribute to premature failure of the roll pin that holds the distributor gear on the distributor shaft. A high volume or high pressure oil pump puts a heavy load on the distributor gear. The best improvements to oiling are first install a restrictor kit in the mains to reduce the oil going to the cam bearing and increase it to the mains, next put in an external oil line between the plug above the fuel pump to the oil sender location. Sheared distributor pins are common, even among Clevelands that don't have a high volume or high pressure pump. Two things happen when the pin shears, fisrt the oil pump no longer works, second you get no spark, so at least when you suddenly lose presure, the engine will stop. Please note I am not talking about the oil pump drive shaft, I am talking about the roll pin that holds the dizzy gear on the dizzy shaft.
You want 400 horse at the rear wheels. Well, that's gonna be more difficult, but of course not impossible. It's possible to lose something like 25% of your hp between the engine and the rubber to the road at the rear wheels. I could be off on that number so don't quote me. This means you'll need to build your engine to darn near 500 hp in order to get 400 at the wheels. Just be aware of the loses in the drivetrain.
I would tend to go with flat top pistons, I did in my last build at the engine runs great on pump gas 92 Octane, no pinging. The theoretical compression is closer to 10.5:1 which I'm sure you would like better to get to the hp mark you are shooting for.
For the C6 transmission, I would recommend a Trans-Go street/strip shift kit for the valve body, and I would recommend the Ford Racing reduced first gear ration gear set, heavy duty forward clutch drum and "R" servo-accumulator. I would get a higher stall converter something in the range of 2000 to 2200 rpm; not too tall or you'll find the car is not very streetable.
As for carb, I've haerd a whole lot of good personal reviews on the Speed Demon carbs. You give them a call directly, talk with them about your application, they send you a carb, you bolt it on and it just plain works. I'm not a Holley fan but that's because I live in the Pacific Northwest and have to adjust the stupid things twice a year whether they need it or not. A Barry Grant might be okay too, but I'd go with a Speed Demon.
You can see more on my last rebuild here:
http://www.asajay.com/oldasajay/351rebuild/351rebuild.htm
Hang on to that Ram Air system too. They have nearly tripled in price over the last 10 years. I personally need two new air doors but haven't coughed up the money yet.
The components you have selected at this point should get you on the high end of 300 hp if not 400 at the crank. You'll need to get some more opinions and do some more research to get that at the rear wheels.
I hope I haven't frustrated you too much with some of what I've said. Most of what I know here comes from experience or the experience of others.
Asa Jay