Dyno it, I bet you will be surprised. Im not trying to put down your combo but I bet its much closer to 425 at the crank then 480.
My old 340 made 480 at the crank, 11:1 compression, race gas, heads flowed about what your do, Huge solid cam 265@50" , Victor intake, 750hp carb. 483hp at 7000rpms, 410ftlbs of torque at 5500rpms. It was enough power to push a 69 Satellite in to the mid 11s, so even if you are only making 425 at the crank you should be able to get your 11.80s