A 383 should have no problem propelling you into the 12s. Most rotating assemblies are fairly cheap. You didn't mention what transmission. For street strip duties the 700R4 will do, but may need ( read as might as well do it right ) to be beefed up. There is a cable bracket for the transmission you will need to make it work with a regular carb. I believe these aren't too hard to find.
The rotating assembly kits can be found in catalogs everywhere from cheap - crazy priced. ie: Powerhouse 383:includes crankshaft $500 + 199 balancing, flex plate and new balancer. December 2006 edition of Chevy High Performance has a nice article on a 383 build. 500+ hp.
Get it to hook well and 12s should come easy.
Last edited by USA1Camaro; 04-05-2007 at 12:49 PM.