The more cubes you have, the easier it is to reach your goal.
If you were to build 2 motors, identical except that one was a 383, and the other was the 406, the 406 will make more power across the entire rpm range.
Choosing the larger motor allows you to attain you HP goal at a lower projected RPM than the smaller 383. (They both use the same stroke crank)
Achieving you power goals at lower rpms means less stress on the internal components, which usually translates into longer engine life.
If you can afford an aftermarket block, you could go larger than 406(427-454 small block)