We've built a few of the 4" stroke versions. They "refer" to it as "427" in an attempt to tie it to the "real" 427 of yore. TOTALLY different animal. In reality, it more closely resembles the Ford and Pontiac 428s (bore/stroke, 4 1/8" x 4"). It's more of a "smaller bore, longer stroke" type than 427, as are the LS engines. (for clarity and separation from the Mark IV "big block" 427, 4 1/4" x 3 3/4")
I really "like" the 412 "kit" Eagle sells. The stroke is only a little longer at 3.8". But the crank is tuff stuff.
Agreed with Cobalt327, the factory crankshaft is up to the task. It's a good nodular casting. I wouldn't recommend any of the aftermarket castings for any more than pickup truck use. Using the word "steel" is misleading. In our business, a "steel" crankshaft is forged, not cast. MANY good forged cranks available for this.
GOOD cylinder heads are imperative. The 400 block is flimsy enough without adding cheesy castings to the top. Iron heads can make a big difference for a street engine's durability. The valve train must also be first-quality for the same reasons. Any and everything you can do to "stiffen" the block is a good thing. "Filling" (like "HardBlok") isn't a bad idea, but requires the use of a remote oil filter and external oil cooler to be safe. Most of the combustion heat is in the top 1" or so, but the oil can't reach the water jackets "up top". Using a cooler "fixes" this issue. Start with a 2-bolt block!!! If you install 4-bolt caps, be certain they're of the "splayed-bolt" type, NOT the "straight". The outboard bolts in the "straight" version go right into the already weakest part of the block. The splayed-bolts draw into the "V", the strongest part in the area.
Your HP and torque "requirements" will determine the "level" of parts you need to make it "go" and make it "live". What's it going in and what do you want it to "do"?
Jim