The 403 is only a concern if you are spinning past 5000 RPM. The heads do suck awful but the 403 is an easier upgrade and has a significant advantage in low end torque, was 50 ft/lbs stock to stock. The 350 will probably have similar power compared to a 5A 307. As long as it is a solid main block and #8 or any of the earlier heads, it will be an easy upgrade. Run it till the warranty is up and then a set of Mahle or DSS forged pistons, depending on which heads and a set of the just coming out Scat SBO rods along with a cam, if you are not happy with the power output. It sounds like you are planning on replacing the awful stock exhaust, that alone helps a lot. Good luck, at least there is a warranty if things go south.