...VERY poor phrasing on my part! I VOTED for the 408...
I use the block that came with my '93 from the factory... it's been prep'd and girdled, bored to a 306 and I spray the crap out of it with a 200hp single nozzle wet kit (NX)
My apologies sir

...if I had a 408 and a turbo I had better be running in the 7 second range in the 1/4mile!!!!!!!
An early, seasoned 351 block or one of the Sportsman 351 blocks avail. from Ford Racing would be fine candidates for a 408 stroker motor... bolt up a street turbo kit and hold on to your shorts!
A Tremec TKO would be a good investment for street use... pro-shifted if you plan on getting the most out of the combo on the drag strip. I'm partial to the Jerico DR4 unit, however

...you have to re-learn how to drive with one on the street.