You'd make a lot more power with a better cam than the FRPP. But you don't need all that TGJ listed. There's a member on Moddedmustangs that made like 406, with I think stage 2 livernoise heads and stage 2 SPR comp cams. He had pretty much every bolt on still, but did not have an electric water pump or aluminum driveshaft. He did, however, use a $2000 one off JPC intake manifold.
Even so, to have 400 rwhp with a tiny engine like this, it will be at a very high RPM, and be very peaky and low on bottom-end torque. There's simply not enough displacement. If it's a race car, then fine, but if it's a street car you'll want to go with a stroker kit to get some more cubes, or forced induction. The FI would be cheaper probably.