372or 416 and why
Being the 372 is down 28 cubes, it has a slight disadvantage and it's mostly in torque because of it's cranks stroke. The shorter stroke has the abilty to rev higher, where the HP is made. And as you allready know, it should be a tad cheaper to build and use OEm parts to work well.
While it is nice to say I have 500 HP, IMO, I would look to make as much torque as possible for as long as possible and forget about the actual HP number.