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

Probably the single largest gain in performance by comparing the 451 B block build vs. the 451 RB build is in the blocks themselves. The weight loss from the B block alone compared to the RB block is pretty significant.
That's true. And I also believe it's no secret that RB blocks were a little undersroked for their deck height? The B-block with RB crank completely eliminates that deficiency. Even the mighty 426 street hemi was a little "Boaty" right off the show room floor compared to other manufacturer Big block options. (But with just some tuning the beast began to awake. And add the fact most agree that that engine was also under cammed. Head performance was already there. Just needed to work them more.)