Can a 400BBM w/cheap aluminum heads compete/dominate against the street LS?

76 Aspen R/T,
400BBM block, speedmaster heads,
3 speed manual
1974 police 9 1/4 axle, am going to change gears-not selected
I have front and rear sway bars for it, and subframe connectors, 5 leaf-leaf springs,
Polyurethane bushings
...blank canvas, just wondering if building a street machine would be competitive.