Right you are.
Regarding the connecting rods, My machinist said a set of ARP rod bolts will make the stock 292 rods live to higher rpms easily. He said they're stout enough, the weakness was in the rod bolt technology of the day. Then shot peen and polish for good measure.
He said get a set of custom pistons made for $100 bucks apiece, give or take.
Regarding the E85, Hot Rod magazine just answered a guy's letter asking that about his high compression 454 musclecar. They suggested a stainless steel or plated gas tank (or fuel cell) and stainless steel fuel lines. Get rid of rubber hoses and AN fittings, and finally, change out the viton needle and seat for one made for alcohol. Then rejet about 25% richer to start and tune.
I figure if I record my race gas settings, I could easily convert back to race gas for the extra power if I ever wanted or needed to. But at 12.2:1 compression, I probably won't notice a severe hit in power.
