a 499 has a much shorter piston (1.120 compression height) vs. 511 has a 1.320" CH piston. I like the lightweight 499 (4.15" stroke, 4.375-4.380 bore, 6.760 rod) however the short piston bothers some folks. The 511" (4.25 stroke, 6.535 rod, 4.375-4.380 bore) adds a few cubes and theoretically will last longer. That last statement is highly debatable. If I was doing one I'd get a Molnar crank/rods from @PROSTOCKTOM and some Mahle pistons from summit. If you want to hit it with a little nitrous Mahle (mah-lah) sells a stainless steel, gas nitrided top ring for extra abuse.
1500 for cranks/rods and $850ish for pistons. At that point all you need for the short block is bearings, ATI balancer a cam and timing set. If you wanted to good all out (for a streeter) a set of Milodon or ARP main studs is good insurance. Add your 300+ cfm headsand you have an easy, streetable 600+hp. A whif of n20 and it can make 800+ without any exotic parts.