I would pass on the that 383.
find a complete 350 vortec engine with a factory roller cam. should be able to find one for $500. Look for a 96+ 350 truck engine on Craig's List in your area. Get a complete engine (fan to flexplate, with starter too!)
Then do a stock rebuild and change the intake to a vortec edelbrock performer intake.
should be able to get a stock rebuild done for about $1000 and an intake for $150.
A 350 will make more power than a 383 if the 350 has good heads and the 383 has bad heads. So, forget a 383 unless it has a good set of heads. When it comes to a 355 versus a 383, spend the money on a good set of heads first and 28 extra cubic inches second.
Yes, that cam sucks. doubt the engine is 11:1 cr with 76cc heads. but that cam has over 290 degrees of duration (seat to seat) so it should run as high as 10.5:1 cr with pump gas I would think.