I used to have a '72 "Q" code 351 CJ Mustang
- a 71 engine. As the car was built in 1971 they could use the '71 engine. Cars built in '72 had to use the "R" code engines.
The CJ was the first 351C to combine open chamber heads and 4V Ports. If you have a regular 351C (w/11:1 C/R), then I believe someone makes a plate that will bolt into the intake to reduce the size of the ports for street use.
I wouldn't stroke it, and I wouldn't use the 400 block - too heavy. I had a 3.25 rear gear, Torker Intake and a 780 Holley w/headers on mine and it did not lack for low end torque and would scream up top. Most would say to use a 3.91 aor 4.11 rear gear w/ the torker but honestly, I had more than enough down low on a 3400 lb car.
If you are going to use a double pumper, don't go any bigger than a 700 any more and you will lose area under the power curve. The CJ used the same profile cam that the 428CJ used - and to good effect - the duration let it live well on pump gas.
If going to strok use the 351W block, 400 crank, custom pistons and LONG RODS. This will reduce tendancy to detonate w/higher compression.
Remember that if you use aluminum heads (from FM), you can get another .5 point in compression w/o detonation.