As far as heads it's up to you. I like running aluminum heads and you can run a little more compression, I think iron is 10:1 and aluminum is 11:1. But i've seen some cool stuff done with iron heads too. I run a 408 in my truck and I have a 750cfm carb. For a cam you can always call which ever manufacturer you like and ask them. They'll take all your info like car weight, rear gear ratio, ect. combine that with how you want it to drive and recomend something for you.
Knife edge is when you grind down the cranks counter weights to a "knife edge" to make them more aerodynamic. I've never looked into it but it sounds cool.
Good luck!