Stoke stroke 383 horsepower
OK, look. The 383 is just a small block in a big package. The 383 stroke is only .070" longer than the 340, 3.38" vs 3.31" and is actually smaller than the 360 at 3.58". So, I think you are looking at about the same amount of money to get the 383 to 550-600HP as if you tried it with a 360.
Stock Stealth heads will limit the 383 to about 500 HP and you will have to spin the stock stroke 383 to maybe 7000 rpm. If you want to spend the dollars, the standard Stealth heads can be ported to 340-350 cfm which will increase their power potential to nearly 800 HP in the right builders hands. The CNC Procomps would be a better deal.
The stock rods will take those high rpms for a period of time but they are now 40 years old and have many cycles on them already.
Remember, cheap is cheap and a 600 HP 383, built cheaply (if even possible), will grenade (inevitable).