Sounds like some great advice from our buds here, this forumn has been invaluable to me. I'm in the same boat getting ready to completely redo the entire powertrain, brakes and suspension so I'm also doing a ton of research to try get it right the first time and take everything into consideration. The 500-600hp is a heavy undertaking right off the bat.
My 2cents, do the 408 per your plan to get into the 450-500hp, learn to safely handle it and then see if you really want or need to take that next step to 600hp with the shot. Likely, you'll spend your budget doing the engine and everything else required so you don't break stuff and can run safe and more importantly, you won't be able to drive your dream machine for quite awhile during this undertaking and even longer to prepare the car correctly for 600hp.
Suspension: Since I'm not sure where you are now, subframe connectors, export brace, monte carlo bar, oversize front sway, rear sway? and like someone else mentioned - Caltracs or Slide-links for sure. I don't see any reason to hack up your floor to customized the frame. Of course, you might have to if you go the 600hp route where your pretty much turning your driver into a race car, 4pt cage, extra wide tires, ect. TCP makes a subframe center connector kit that bolts into the TCP subframes and will do a great job of making the car more rigid as it ties in the sides to prevent twisting.
Might as well do 4 wheel disks, 13" in front (17" wheel min.) and 12" in the back while your at it. Allow approx $2500 for tranny- 5 speed or AOD to handle the extra ponies. 3-3.5" dia aluminum driveline and definately a 9" trac-loc (3.55's, 3.73 or 4.11?) differential to eliminate any questions about stretching the limits of an 8".
Do it right and be safe, it just takes time and $$$ but will be rewarding and a blast.