Carburetor cfm calculator

I came across a couple of formulas for calculating carburetor cfm. And for a 360 with a max rpm of 5,500 they all showed a cfm rating of just under 600 cfm. Even with a mild built 360 which for the most part won't see 5,500 very often isn't a 600 cfm carburetor too small or is it? I don't want to over carburate but at the same time I don't want to under carburate either. Is it true that the smaller carburetor will provide better throttle response and low to midrange torque? I'm trying to learn as much as I can so when I start the modifications the package will all work together.