I like to set the ground work before going inside the engine.
The following are Summit Racing part numbers.
An adjustable fuel pressure regulator (JET-61510), throttle body spacer (AID-200-540), Fuel line extensions (TRD-2458), injector spacer (TRD-2457), Hypertech "Cereal Bowl" (HYP-2001 discontinued), and a reusable air filter (KNN-E1500).
Add a second snorkel to the factory air filter assembly from the wrecking yard setup like the original snorkel (vacuum line tees into the original, hot air tube from the exhaust manifold) Remove the restrictor in the air box and/or make new air tubes to the radiator core support. Shorty headers (SUM-G9014 non-AIR or SUM-G9015 w/AIR) and a cat-back exhaust are good editions as well. These remove the restrictions outside the engine.
Now on to the engine!
You will need a new flexplate/flywheel.
The short 400 rods will help bottom end torque a little. Use a dished piston and shoot for 9:1 compression. My first choice for pistons are the Keith Black Signature Series. Total Seal piston rings Are the best. Max Seal ($300!) if they fit in the budget. I have seen a 10% increase in power with those rings alone!
Zero deck the block and have the block align bored/honed if it is out of spec. Use a .039 in. to .041 in. gasket. Piston to head clearance of .035 to .045 in. is ideal.
I would clean up the existing heads with a little smoothing of the ports. There are 2 rules for cylinder head porting 1) If you don't know what you are doing leave them alone and 2) Maximum velocity with minimum material removal. Intake air velocity is critical for good torque output.
The intakes will need the most help and the exhaust ports are pretty good as is. A 3 angle valve job with a 30 degree back cut on the valves (sometimes called a 4 angle valve job).
Even if you do nothing else to the heads but lap the valves a 30 degree back cut on the valves is a good idea and very inexpensive to do and can add as much as 25 ft./lb. of torque. You just put machinist dye/red, green, or blue magic marker (black is hard to see) on the valves, lap them in lightly to make a line in the dye, and have the valves back cut up to the line.
Be sure to mark the valves so they go back into the same port they came out of.
Have the guides set to the tight side of the tolerances. This can be worth another 10 ft./lbs.
An Edelbrock (EDL-3704) intake manifold will help as well.
The Summit SUM-K1101 cam will work with the stock prom. A custom tune is always better.
This cam in a 400 should give you a torque peak around 2000 RPM.
Stock rockers are fine. Using 1.6:1 rockers can give a slight improvement but usually requires machine work to fit the heads. The pushrods get closer to the studs when you increase the rocker ratio.
The rockers must be self aligning like the factory ones. A new valve spring kit (SUM-174001) is a good idea as well.