Yes, the horsepower diffrence is small. Just don't do like a customer of mine just did and bored a 454 good std. bore block +.125 on the first build. Wanted "cheap" cubic in. (Cuatomer is ALWAYS right?)
Actually with a .030 bore you have a lot of choices for further builds. +.040 .060 .070 .080 .100 .125 .130 are common sizes for these blocks..
As mentioned, for street use, build for torque and drivability.