A hydraulic cam anxd a 500hp 283 don't mix. A 283 could make 500hp but the hydraulic lifters won't endure the rpm the 283 needs to make that power. However a 327 could get it done by about 6500 rpm, which is where the hydraulic cams start giving out. A torker intake isn't a good choice for an intake though, which would leave me skeptical.
A 327 or 283 making 500hp will have a very rough idle though, and forget power brakes or low rpm drivability.