Please don't waste your time, money, effort, or tears trying to keep a 700 running behind a strong 383. Just bite the bullet, buy a 4L80E and run it. Yes, it may be a little more money up-front but you won't have that achilles heel of a transmission behind the motor like a ticking time bomb just waiting till you are way far from home to decide it has had enough. You can buy a built 4L80E for LESS MONEY than a built 700R4. Why is that you might ask? Because it takes far less updated parts to make an 80E super-strong whereas a 700 will need 90% of it's internals replaced to even begin to be considered upgraded. Each time you break it, you will be replacing lots of parts..
You already know in your mind what the correct decision is and that's why you posted asking the rest of us. Maybe you just needed that little push to head in the right direction.. Well, I'm nudging you.
The controllers are not that expensive ($500 on the low end, up to $1100 or so for the Compushifts), and the wiring is super easy.
I'm sure there will be many people that will say they are running 700's, or have run 700's, and that they are great transmissions. And that may be the case for them. I build them every-day, all-day (12 hours a day) and all I see is the carnage that results from running them behind even mildly hopped up engines. So, my view point may be a bit tainted in that all I ever see is the broken ones.. Take it for what it's worth.