compression or flow?
It sounds like a lofty goal for a cast piston pump gas 360, with a cam that’s really suitable for street use/4 speed/3.55’s.
I wouldn’t be surprised if the 500hp cam(whichever heads are used) needed more valve pocket than what the proposed 116’s provide.
The build outline in the OP of this thread doesn’t read like a “500hp” combo to me.
If the goal is actually 500hp, gonna need to step it up a bit.