putting PI stuff is ok. overall it will be a beter motor than mark VIII, unless you really get into the motor. heads,cams, longtubes, etc.
if you can wait and aquire items the real hot setup is cleaned up, 3 angled 04-05 4v heads, lincoln aviator intake, bolt-ons. nothing is superior to that. use your short block and 04+ 4v components. forgings are for power adders over 500whp.
your mark viii crank rods, and pistons will live to 7000 rpm.