There are "hundreds" of posts on this. Pistons are your only real drawback; they will be expensive, and hi-compression only. OR, you can use stock type, flat or domed, 327 or 350 pistons, and use aftermarket rods in the correct lenths to arrive at the proper stack ( stroke, rod lenth, pin height), and you can get them in small or large journal (NOT concidering the 400 short rods and "larger still" journal). You WILL have to deck the block to zero, or 9.000 inches. So, use a small journal 327 block, a 283 crank, deck the block, use a 5.94" rod and 327 pistons, OR a 350 piston with a 5.85" rod. You'll have to balance the rotating assembly. There are other ways to do this using "late" model parts, but you''ll wind up with a cast crank; 350 roller block with the "baby" LT1 rods and a 350 piston. And, there are thicker "spacer" bearings to further mix and match parts. Still, there's no substitue for cubic inches; build a 350 and it'll be cheaper, make more overall usable power, and you'll be happier. But, it's your money.
I see there's a company selling the one piece baby LT1 (265) cranks and rods for cheap on that auction site we all know and love.