Here's my take on this.
Start with a late model 5.0 EFI motor and bolt on a centrifugal blower with intercooler. You'll make more streetable power than you ever could by building a naturally aspirated 351W. Tweak the EFI and be done with it.

With the proper tuning on the rear suspension and a good set of slicks, you could regularly be in the 10's, then drive it home from the dragstrip. How could it get any better?