Couple of 360/5.9l questions?

1 Can a magnum 5.9l be drilled for LA rocker oiling ?
Yes but find an earlier block. There not that expensive and you can always re sell your current set up and roll the money over into the project to reduce cost.

Think smart.
2 Are crank spacers safe on a 450-500 hp to 7000 ish rpms?
Yes Contact Ram racing engines. Replicarracer43 has my 360 block, ram racing spacers and a MP 3.45 stroke crank & pistons coupled with new con rods. He’s doing the short block for me.
More on this later, I’ll start a thread on it when the time comes.

Anyway, Mr. Richard’s has used these spacers for years. He developed them.
3 How much hp needed to do mid 11s in a 3500 lbs car on drag radials? but with no /6 bars or drag racing leafs. Do have fully adjustable shocks.
Find a way to reduce weight and make use of it without stressing the engine more via more power.

If you insist on a heavy car or not, I’d move to the 3.79 crank for more torque through out the range. I’d look for a mechanical FT cam of a min of 250@050 with as much lift as your head can flow, 10-1 min. Compression, 4.30 gears and a 28 inch tire. (Slick) 1-3/4 inch headers. I’d also run a ported single plane, maybe a ported RPM-AG - maybe and throw the chink intake into the recycling bin. Make use of carb spacers if you can.

Get the car on a diet. Loose 300lbs.