I want to have 400 rwhp and able to maybe beat corvettes stock ones. I was thinking of using this setup, please tell me what you think. 350 with Edelbrock permaster intake manifold, with a Edelbrock 750 carb, The camshaft would be Comp cam competition magnum cam duration @ .050" int./exh. 244/244 lift int./exh. .501/.501. The cylinder heads would be Sportsman 2 heads 200cc intake runners chamber size would be 72cc with 2.02 and 1.60 valves. So what do you think?

 

Your compression will be kinda low for that cam with the 72cc chambers.
Also, you could fix the title of your post, 4000 rwhp is kinda a lofty goal.

 

My bad. You think I should go with the 64cc chamber heads. What is the compession you think would that be?

 

You'd have about 420+/- flywheel horsepower.

Approx 340 rwhp.

The Sportsman II heads are good heads but are a little shy on airflow as you get them. They will not flow enough air to support the power you're after without professional porting.
But......

If you had the Sportsman II heads fully ported and flow test verified to flow 260cfm@28 or more and used a Vic JR intake, and a larger solid lifter cam or solid roller cam with a duration of about 256 to 260@ 050" and .550+" lift, and blueprinted the motor for a true 10.3:1 compression ratio then 400 rwhp is well within reach.

approx 500 flywheel horsepower.
Here is a article on the buildup and dyno testing of a 500+ hp 350 using Sportsman heads .

The only thing I would do different is building it with lower compression for 92 octane gas.
http://www.autospeed.com/cms/A_0033/article.html