Can stock rod and stock crankshaft handle the power?

RPMs "with a little port work" are not going to reach 500hp on a 360 unless you put a VERY large cam in it (read as race roller) and rev the piss out of it. They need to be fully ported to make that level with a flat tappet cam and it's still going to be rpm happy. I'm not sure what your rationale is for wanting to do this, but I wish you luck. I do think it will live for a time - but only because it's not going to make the numbers.