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

If it's built for a purpose and if you don't mind spending the $ on good fuel you can do it rather cheap. You really are not going to drive it much so the fuel will not kill ya. I'll be right back.
Sorry for the delay. Anyways some basics about 13.5 - 14.0 comp a modern solid lifter cam about 268 - 274 dur @ .050 some decent rods (eagle or such) single plane tall manifold 950 carb. should be a killer set up, now a 8 inch convertor a set of small slicks should be over the top for most ls's. It would be a cheap build and easy on parts. Look for used convertor, manifold and carb. slicks and use a trans shield. You will just love it. And a stroker is always great if you got the extra $$$. And it is fully streetable.