The book the guys mentioned is a good one and explains in laymans terms about strokers.
ProDart to answer one of your questions. No you don't bore the block way out. In fact you don't even have to bore it at all if you don't want to. That's why their called strokers. You change the stroke length (crankshaft) to gain the extra cubic inches.
Pro's: lots of torque and more streetable than a radically cammed 340 or 360. That huge grin you'll get when dropping the hammer.:-D:-D
Con's: not alot except you really should run forged pistons cause the piston speed on a stroker is much more than on a 318/340 or 360. Depending on which rods you use you may have to notch the block for clearance. May also use more fuel cause your right foot will like to live on the floorboard. Can I get an amen 340Sfastback!!:cheers: