Need Opinions - Rebuild 904 or Move to 727?

My ex-boss runs a 904 behind a Steve Schmidt 500" pro-stock engine in the high 6's, at a hair over 200MPH.
Lots of trick parts of course, but as others have said, stick with the 904. Not that you need the same transmission as either he or Bucky Hess has, but they are capable of handling high horsepower/torque.