Big horsepower 318 builds

I am far from a pro builder but how about some zero deck flat tops or slightly dished with the Speedmaster/Edelbrock design heads. You could use 920's or 302's but they are cast and obviously require porting to make them as good as the aluminum's.
might be better starting with a magnum.... work with the magnum heads, have better deck height and a lighter rotating assembly and roller cam. I'd think a good running stock 5.2 with just some mild head work, RPM intake and 750 dp, and a stout regrind cam would get ya about 400 hp, shop smart and spend about 1300 total ?