Well, here are some thoughts on a couple potential cam setups to finish it off.
First of all though....your two bolt block will be fine if the machine work is done right and good bolts hold it all together. I wouldnt worry about it.
Here is a real good middle of the road, fairly aggressive cam that shouldnt have any problems going way into the 11's in a 496 with street manners to boot.
http://www.holley.com/402A4LUN.asp
Its a solid flat tappet. Here are the digits. 282/292 advertised duration, 248/255 at .050,. 570"/.586" lift 112/106 LSA. Itll have good enough street manners and rock with about a 3500 converter and some 3.73's. Well into the 11's with driving manners too. Id use roughly 10:1 comp, oval ports(781 or 049 with larger 2.19 and 1.88 valves and some good bowl work). With the rpm intake and a good 850, itll do nicely. Keep the header tubes under 2 inches.
The largest one Id run is here
http://www.holley.com/402A7LUN.asp
Id use about 10.5:1 and a good 950 HP. Lots of guys are sneaking this cam into the 10's in average to lighter weight cars like novas and camaros. They drive em too. I wont lie though, its a little rad. Ordering it on a 112 LSA instead of a 110 would smooth it out a hair and allow for a little more piston to valve clearance too. Probably still need a vacuum pump to guarantee enough vac for power brakes all the time. Oh Id use between a 3500-4000 converter and at least 3.73's if not a 4.11. The bigger motor would pull the 3.73's fine though.
Its very important to build a more than adequate fuel system! Dont rely on stock lines and a stock pump. Use good stuff. And dont cheap out on some BnM or TCI cheap converter. Look into Edge, ATI, and Coan to name a few. A good street strip unit stalling in the neighborhood of as low as 3000 to as much as about 4300(depending on cam choice) will do. And dont just pick one out of their catalogues.....call them so you are sure to get one that stalls right behind a big motor.
My opinion would be to use the 402A4 to start with. You should have plenty of p to v clearance, enough street manners, and more than enough power to go middle 11's after the car is sorted out. I wouldnt jump up to the real big one til you get a handle on this one, cause beleive me, a street car capable of middle 11's, or even low 12's takes some time to get a handle on. You wont stop grinning anytime soon.