Whew! Boy, I guess everybody has a different idea of what the term "budget build" means!
Budget build in your needs (400 hp) means this to me:
350 short block, 1987 and up, roller cam, rebuilt by me with forged pistons, pm or used rods (performance type), LT4 hotcam (used, most likely) and a good roller type timing chain. Stock Z28 style oil pump.
Vortec heads, freshened up with a valve job and some high lift springs with guides cut down for high lift OR 305 LG4 or TPI heads with the same mods
Performer RPM intake with 750 cfm TBI unit (probably from eBay) and in tank vortech fuel pump.
Used Laptop to run the tuner Pro stuff that the DIY PROM guys use to tune the setup.
The only thing worth paying full price for (as far as I'm concerned; some people love new stuff) are the 1 3/4 headers that Dyno don sells on this site. I like the SLP's if you can get them used but they're hard to find.
Starting with this engine will save all of the machine work to the bottom end and provide the heads with only the valve guides to be cut and high lift springs installed.
http://www.sdparts.com/product/12530...er8500GVW.aspx
I would only replace the cam with an LT4 hot cam and put forged pistons (if that) in it and then bolt on my intake and exhaust.
You will think you bought a new car. On a budget...