Is the 383 a better engine, or does the 440 just have more displacement?

Up to around 520" my vote is 400 block all the way. Bigger bore, stronger block, essence of rich corinthian leather.

Much more room for an air filter with a low deck also.
I am a big believer in the 451! Why not take what makes RB torque monsters and combine with B faster and higher RPM? If one bores a 440 + .060 over? They get 451. But a 400 with an RB 3.75" crank cut down for 400 mains? Will easily out perform the bored 440. That's because the rotating weight is lighter. The 400 mains are smaller. Thus create less friction than 440 mains.

So in closing? Yes... One can have their cake and eat it too? The 451 from a 400? Is a big block that thinks it's a small block. This is really the same secret Chevy used with great success with their 396?