450+ hp with engine accessories isn't a far stretch, but building an engine with that level of power naturally aspirated is going to make for a few driveability issues as well as reliability concerns. You have to run some pretty good cam timing to make those figures.
If your car was a fox body 87-93 I'd say build/buy a 331 because they don't weigh as much as the 94-95. With the '94 I suggest a 347 for the extra torque they provide.
If the car was mine and all I wanted was 450fwhp here's what I'd build:
331/9.0:1, Comp XE266HR, AFR185, RPMII, 36#, supporting components and a 6psi charger .... plus an EECIV out of a fox body .... there I'd be at 450+hp.