The block you have will work great. The 010 020 means the block has a high nickle content. These are what many would consider the poor mans bowtie block. This is the type of block that I am using in my Monza drag car which makes 481hp(motor only). I also shoot a 200hp shot of nitrous into it on a regular basis and have not had any problems.
I agree with idoxlr8, you will want a good open plenium intake like the Vic Jr. or Team G if you plan to get that motor around 450hp. You might also what to look into getting a holley 750. It will perform better and be easier to tune at the track.
Another thing that you will have to do is have those bowtie heads ported. They just won't flow enough in stock form to get you to the 450+hp mark. You won't need a full port, just a good bowl blend. Just take a grinder and clean up the bowls, smooth the short-turn radius, narrow and smooth the guides, clean up any casting flash in the runners, and port match it to the intake. For a first timer, it may take a couple of weekends, but you will be happy with the performance gain.
-79 Malibu (Soon to have a fog fed 454 Big Block)
-Alston Backhalfed 76 Monza
w/1.48 60 ft (Motor Only)
w/1.40 60 ft (with nitrous, turning it off 3/4 way down the track) Should have high 9s with full nitrous run!