Getting hemi 5.7 to 500hp pump gas

OK, so here is the situation.
Its been debated that my idea of 700hp on street, is a little scary.....so im gonna shoot for 500hp, figure its a nice round number.

I wanna know how everyone would approach this, im not a millionaire...so can't afford blowers and stuff(someday want a root style blower thru the hood), i will not run a turbo, my car is a muscle car not an import.

I picked up the 05' ram hemi 5.7 for $200, guy said it has a lifter tick....i had a tough time turning it over (compression, nothing broken), it did turn over. I ended up pulling heads to check the cylinders, everything is smoother, looks good.

As of now, i have 2 choices.
1. Spend $300 to replace the head bolts and put it back together, then try and fire it once i get that situation worked out (hotwire or megasquirt).
2. Spend money NOW, while its torn this far apart, and rebuild it/hop it up a bit...

I'd hate to dump money into the engine if its not gonna run, however id hate to get it running, only to find a prob and have to tear it down yet again...

ultimately I want to be able to drive this on street, weather permitting..mountain driving Colorado.

I'd like peoples opinions, suggestions, what they would do..all that.