Cutouts for Strip only, beneficial?

I don’t know the weight of your car, or your track day weather conditions, but I think a 10.8:1 CR, 500 in motor w/ TF heads in an A Body is normally a very low 11 sec. street car. I don’t know if cut-outs will help, but I do know that you don’t need them for low 11s.

I really think that tuning and track time is what you likely need, unless there is something else amiss. Based on what you’ve posted, if there was one thing I’d change, it would be the cam. Not a crazy change, and with that, you should be looking at 10s, IMO.