At 8K rpm would need close to $1K worth of valvetrain alone. Oiling is a big issue too at that rpm. What oil pan do you have? Better be a road race one with gates in it like these:
http://www.milodon.com/oil-pans/road-race-oil-pans.asp
Are you using you existing block and parts as a start and a $7K budget after that? Maybe you need to list what you have to work with.
I'd talk with Tim Werner or AndyF about the shift point deal. The gain might not be what you expect. Or it may be. I don't know. But they would have a good idea. They just went from a 360 to a 427 stroker. Car went a lot faster at Portland Raceway.