I think a destroked long rod 400 would be nasty in a Z.
Check out the kits at http://www.speedomotive.com
They have some good building tips there too. Read up!
The 2 bolt 400 is said to be better than the 4 bolt, and the 400 runs small base circle cams for clearance of the rod bolts, roller lifters for radical cams. and I've read that at temp the siamesed cylinders won't stay round, making ring sealing a problem (makes me question all the talk about the turbo Z blocks being superior to the others!)
They have steam holes in the decks, that need to match gaskets and heads, any heads can be drilled for these, came with cast cranks and are externally balanced, larger mains.
I doubt any of these things are issues for a street engine.
I have one in a boat and it has much more power than the 350 did, but it's not stock.