Here is another thought. That Corvette 427 is a motor that has some cache in the right circles. You might be able to sell it to a Corvette restorer for more than its worth as a motor.
Use that money to buy something like a Chevy small block stroker 383. There is a highway capable 383 powered 6400 I see at local shows around here. He is running a stock rear, a stock transmission, the 383 and an over and under box of some sort.
Keep in mind the faster it goes the harder it is to stop.
