I'm not sure what your refering to about the crank, Chevy used 2 different cranks in the 327, a large journal and a small journal. The difference being the size of the main journal diameter. Without getting into a big discussion about bearing speeds, it really doesn't matter as far a preformance goes, a small journal block requires small journal crank, and a large journal block requires the large crank.

As far as the combination you want to run in this day and age, I would recommend the following:

Do the best rebuild you can on the short block!!! If your going to spin the engine pretty tight, you want the engine to hold together.

1. Have the main bearing housing checked, and line bore if neccessary.

2. Have the crank checked and turn if necessary. If it has a cast crank, and funds permit switch to a steel crank. If the crank you have or are looking at won't clean up at .010 undersized disguard it. (With an engine that turns high RPM, the crank and rods can become the weak link and should be as strong as you can make them).

3. Have the rods checked (with the age of the engine, you'll likely find they need to be resized). It's a good idea to have them magnifluxed and if funds permit shot-peened to help eliminate the possibility of stress cracks.

4. Have the block bored the minimum necessary to clean up the cylinders (preferably .020 to.040 and no more .060). Choose pistons that will give you a 9-1 to 9.5-1 Compression ratio with what ever heads you decide to use. Higher compression will make more HP, but the problem becomes getting good fuel at the local gas station and the added heat generated by the engine. As far as pistions, unless your planning on running a supercharger or NOS I'd avoid forged pistons. Generally speaking they are heavier (which will directly affect how fast the engine winds up), and the added stregnth will not really be neccessary. A good set of cast pistion or preferably a set of hypereutectic will do just fine. Sent the rotating assembly along with the flywheel/flex-plate and balancer out to be balanced. Have new cam bearing installed, and use a good double roller timing chain and stock blue printed oil pump (I'd advise not using a HI volume oil pump if your going to spin the engine past 5500 RPM as it could drain the oil pan sump and starve the engine). I would advise against using trick parts like low tensions rings etc unless you are planning on this as a race only engine).

As far as the top end of the engine, which is what will determine how much HP you will make, I'd do the following:

1. SBC like to breath, So I would recommend heads with 2.02-1.60 valves. Chances are these are not what you have, so you have some choices on which way to go depending on your budget. The heads will be the most expensive part of the rebuild but if you want power this is where you make it.

a. Find a set of used 2.02 heads and have them reconditioned. In most cases the ones you'll find that the affordable ones will be worn out. Meaning new valves, guides, hardened seats, springs, etc. All in all this can be rather expensive.

b. Have your stock heads redone and over sized valves installed along with porting to take advantage of the new valves also a set of screw in studs should be added (Likely more expensive than re doing 2.02 heads)

c. Go with a new set of heads (with the number of aftermarket/OE heads available this may be the cheapest option in the long run.

2. Go with a cam in the .500 lift range with around a 290 degree duration. Go with a manifold that makes power in the 1500-6500 rpm range (edelbrock Preformer RPM or equivent) and top it with a 700-750 CFM carb.

3. Use headers that have 1 5/8 to 1 1/34" primary tubes, and a HP GM HEI or aftermarket electronic distributor.

4. Hang the biggest radiator you can find in front of the engine.

5. This combination will require either a manual transmission or an automatic with a stall converter (min 2500-2800 stall) and a set of gears 3.55 or deeper (depending on the tire size.)

To do it right speed/HP costs money. This is not a $300 rebuild, check with your local machine shops and parts suppliers to determine what this will cost in your local area. To REALLY make the HP numbers you want (and have an engine that will not blow up the 3rd stop sign you pull away from) your going to have make a realistic commintment on how much you want to spend.