Yes won’t be more than 350. Was thinking of getting a small block and machining it starting from scratch and just upgrading some of the major components from within. Just went soemthing I can cruise in and occasionally burn some rubber. Rn I got 14 rally wheels on but I want to change to 15 in later.No one here has pointed you in the wrong direction, really. Either a 700-R4 or 200-4R will work just fine. I'd recommend to you to come up with a total plan before you start buying parts that might not suit your end goal of cruise and occasionally run down the strip.
1st - determine the size wheel and tire you will run - you cannot choose a correct rear gear ratio if you change your mind from running a 25" tire to a 28" tire. 2nd - you mentioned a 350 install- mild 300-350HP? Need to know this for transmission.