I recently went thru this over the winter. 383 vs 355? My 21' Challenger is very light 2600lbs and did not need the added torque as much as a heavier boat. I am also overpowering the Alpha 1 even though it has HD upper gears. I went the 355 route as I allready had the pistons and rods in the shop.
Eagle 4340 3.480" crank, forged I beams and TRW L2304 forged pistons, rotating assembly balanced very well. 1980-85 4 bolt block align honed, decked .020", bored .030" Melling M55A HO oil pump, Moroso 7qt oil pan w windge tray.
Edelbrock Performer RPM intake
AFR 190cc aluminum heads 74cc 10.0-1 SCR, .039 quench, 2.02I, 1.60E, Flow 261cfm @ .500 with strong midlift flow numbers
Morel Retrofit Roller lifters
224/230 .537/.511 112LSA 110ICL roller cam
Crane 1.6 roller rockers on I, Lunati 1.52 rollers on E
Holley 4150 750CFM carb
Smith Bros .083" wall 1 piece pushrods
Glenwood Marine HP aluminum manifolds w FastGlass 4" stainless smooth long risers that are 16" long. Almost a dry system as water hits the exhaust 3" before it leaves the tips. No Reversion
Engine Made 426hp @ 431tq on the dyno with dyno headers. With the marine exhaust I figure it will make around 400hp. Runs like a dream and very powerful and torquey. Idles 775-800rpm N and 675-700rpm in gear idle. Pulls hard to 5500rpms.
A 350 block needs clearanced as mentioned near the pan rail for the added 3.750" stroke. Does not effect the integrity of the block or cylinder wall in the least. A 6" rod is better than a stock 5.7" rod as the piston stays longer at TDC and resists side loading the cylinder wall. Use the longest rod possible is always the best approach. 383 spec pistons will be needed.
Have the block bored, align honed, decked and clearanced.
As to a 383 running hotter than a 355 I do not buy into this. I've never seen it and i've been around both types.
To do a 383 right your going to be going aways over $3K.
Here are a few pics of the 355