Go the 393/396, it will of course make more power/torque. I'd buy the Scat cast steel crank, Eagle I beams, and a nice set of 302 pistons. Mainly since you are planning on spraying 150+ to it. This will easily hold 700hp, and you can have some peace of mine. We have the same motor in a few cars locally, and they all run good, with no problems on nitrous. They run high 6's on motor, and one has been 6.30's on 200 shot.
Good luck, Greg(XSR)
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86Gt with stroked 351W, XSR Vic Jr heads, XSR super Vic int, XSR custom solid roller cam, MM C-4, TCT 8", NOS Bigshot, Moser race 33s axles, spool, etc......
6.49@107 w/1.43 60ft(NA)
6.01@118 w/1.39 60ft(225 shot)
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