Will a Stock 489 handle 700hp?

I'm confused on many fronts....why do you want 3.23 gears and a 2500 converter behind a "650hp" engine (I can't think of any).

Also, how did you come up with "650hp"?.....kinda smells like a big scoop of Hotrod magazine, lack of sleep and a "3/4 race cam" = 650hp?!?!?!?

It is not for a strictly race car. It is a street/strip car. I only have race radials on it so I can drive it on the street.

I am working on a project that I can't mention that will boost the hp from 500 to about 625, (I'm hoping) 650 is for room and I want it to be able to hold 700hp because I don't want to come "ANYWHERE NEAR" the breaking point! Hooking up with slicks is what one of my friend said about breaking a diff. I don't think I will be hooking up, but I am concerned about low end torque. Is that much of a factor if I don't hook up off the line but say 50 feet down the track or so? I don't know for sure where it will hook but just guestimating.