The H beams will be better regardless, their I beam orientation is in the right position to resist the bending moments. The 4340 H beams will be even stronger.
It all depends on the power you want to make for whats best for your application. Like zdld said though, I would still get the small base circle cam and clearance the block just in case, even if the rods cleared.
Tensile Strength
5140 steel 115,000 psi sportsman-grade forging
4130 steel 120,000-125,000 psi premium alloy
4340 steel 140,000-145,000 psi strongest alloy for cranks and rods