2 approaches:
Affordable H/C/I (think GT40 and letter cam) + blower or turbo. The trick here is that if you can make 260+ to the tire n/a, then an intercooled turbo combo gets you to 500 rwhp by 15psi on pump gas, where sensible folks stop to prevent pushing the block too far. A little harder to achieve with a blower, due to more parasitic drag, but 450rwhp probably possible with an efficient centrifugal blower.
If you like the na approach, I've been blown away by the TFS 11R 190cc Heads with a Systemax intake, and I'd pair it with a TFS stage 2 or a custom cam. You can go with a lighter cam if you want even more driveability. Use the remainder for all the supporting parts. This combo has pushed 400 rwhp on several SBE combos.
For any of the above, you'll need to address the fuel system, some way to tune (Moates Quarterhorse is solid), and if you put a sticky tire on it then transmission and chassis, too.