The 347 isn't a 'poor design', but it's design on the piston with a 5.4" rod causes the wrist pin to move into the oil control ring. Blow-by will occur, but I didn't say immediately
What rod you using by the way?
Also, I have read a user on here saying that they would have got the 5.4" rod if it wasn't on backorder. This makes no sense to me. I would not 'supplement' my engine with something I wouldn't want and would drive with if that is all I needed. I would wait.
Like I said, if you get a 347 and want longevity and better 'oil control', get the 5.315" rod. I don't think anyone said it is a 'poor design.' It has it's pros and cons. You can make a 5.4" 347 go for quite sometime, but the 5.315" rod is a better design ergonomically.
In short, for the 347, get the shorter rod, taller compression height piston and not the longer rod, shorter compression height piston. Get the same cubes and more efficient life