For a long time (about 20 years) I had a 327 in my car. It was 11:1, had the Z-28 solid cam (30-30 Cam), Z-28/LT1 intake, 462 cast 1.94/1.50, mildly ported heads, 650 DP Holley. Ran good.
I changed that motor out for a 350 (+.040") with the same carb and intake, a little less cam (370 HP LT-1 solid), same heads with 2.02/1.60, a little more porting, comp about 9.5:1.
I can't say there is much differce between the two. The 327 pulled a little harder past 4500, the 350 is torquier from 2500-4000. Just a you would expect.