350!! Your performance ceiling will be lower, but unless you drive like a complete psychopath, not much more performance is useable. I leave a significant amount of my 350's performance on the table when I drive.
I run a 350 with RA #12 heads and Lunati 702 cam. It cost me no more to build than a 400 or 455. It gets way tougher to find forged pistons off the shelf, but that is the only limitation. Cam choice has to be thoughtful, combined with rear gears and converter selection. If you already have a drop in ready 350, go for it while you find your big inch dream.
I have a 400 destined to go in my Firebird, but sometimes I wonder "what's the point?" other than to say I have a Firebird with a 400. Am I marketing it to myself? The 350 gives me all the driving crazy I need. Your 72 probably weighs a good 500 lbs or more than mine, so that might make a difference that you won't be able to live with.
That's a beautiful car, BTW. 2nd gens, especially the early ones, hold the most dear automotive place in my heart.
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"...ridge reamer and ring compressor? Do they have tools like that?"
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