If you really want budget, post #21 is the way to go. With some mild port work, 1 HP per cubic inch can be easily reached. That would be my build. Stock short block, mild cam, milled and ported stock heads. Good all around pump gas reliability.
That said, the 451 won't cost much more......although the pistons will be more than the stock 400, the difference won't be drastic.
That said, the 451 won't cost much more......although the pistons will be more than the stock 400, the difference won't be drastic.