Stock rods with ARP bolts are typicaly good up to about 400 HP. If you are running @ 500 ft lbs then I assume HP will be similar and I would suggest aftermarket rods. Go that route and you "might" be fine with a cast crank and hyperutectic pistons, its kind of a crap shoot, but those parts can certianly withstand such work "from time to time".
RPMs are what kills a motor. If your gonna rev it, build it to take it. Hyperutectic pistons are proving to be very adequate for lots of work, a couple of huge assets in building for RPM's are lightweight parts (pistons and rods) and a good ballance job. A cast crank can withstand a LOT more work with those two assets because it reduces stress on the crank.