Sounds like fun, but take it a step further- - - -how about 250 cubic inches or so, and 8,000 RPM? I'm building up a super-small displacement smallblock as a sleeper engine for our local round track. A 305 block, with the 3.736" bore, and a 283 crankshaft, with a 3" stroke, works out to just under 250 cubic inches. We're restricted to a Holley 350 CFM 2-barrel carburetor, which acts just like a governor on the 350 engines most of my competitiors run. With a roller cam, roller rockers, and a rev kit, I should be able to turn 8,000 RPM with a well-balanced engine, and all the race will determine is "who ran second?"!!!!
The bored-out 283 was the hot setup, 301 cubic inches, but they were a bear to keep cool. A better way to do it is to find a 327 block, one of the early models with the small main bearing journals, and drop in a 283 crankshaft with the 3" stroke. If it happens to be one of the forged-steel cranks, that's much better. Those shafts are a little scarce, though.
Cylinder heads- - - -Use a set of the 283 "Power Pack" heads, with the pyramid-shaped mark on top of a rectangle on the end of the head, and hog out the valve seat and port area for 1.94" intake valves, and 1.6" exhausts. Don't worry about hard seats, the engine won't live long enough for seat erosion to be a problem, and it usually doesn't happen on engines that have never run leaded fuel anyhow. Pocket-port the heads, and open up the exhaust ports into a "D" shape if you want to, combined with a good set of equal-length tube headers if you've got room. Otherwise, use a set of ram's-horn exhaust manifolds for a 300-horse 327. They have 2 1/2" pipes, larger than the standard exhaust manifolds. Have fun with your sleeper project!
Jerry