440 rods in 400
If you can run E85, you can run 12:1 compression. (I'm running 13.8:1 with EFI on B1 heads) 87oct, notsomuch. If the primary goal is power, I'd go E85 on kill.
I'd go with the long rod/IC825 combo simply because it's a much superior piston to the hyper explosives; better rings, lighter, stronger, etc. Still going to spend the same money on rod rebuilding either way. Around here(chicago) factory 383/440 rods from tear downs are give away "want these or do I throw them out?" parts. I'd buy a guy lunch for a set. But that's here, no relevance.
Wallace Racing: Dynamic Compression Ratio Calculator You can calculate what your dynamic compression is going to approximate, and that will tell you roughly how much static compression you can get away with, and/or how much cam you must run.
IQ52 has done this before and he's kindly posted his results. You have to decide what you want/can afford, and how much of his work applies to what you're doing.
It's much less expensive to figure out what you're gonna do before you start buying parts, vice buying parts and trying to figure out what you're gonna do afterwards. S/F.....Ken M