I'm assuming you mean the 200-4R overdrive transmission and not the metric POS from the late '70's. It would certainly be less work to use one, but if you're talking 1,000+ hp, the longevity won't be that great and regular refreshing/inspection will be necessary even with all billet internals. Those transmissions were never meant to be heavy duty. The gear spread is good and they perform well, but moving into that power level there are better options.
Here's a link to a member who did a 200-4R install.
http://www.forabodiesonly.com/mopar/showthread.php?t=174333&highlight=2004r