You guys are awesome, thank you all for the input. A few more questions:
1. With a 427 CO, does anyone have any concerns about main and rod bearing longevity, considering the increased bearing loads imparted by 550 HP, longer stroke and 6200 rpm bursts?
Mine has been together since 2006, the toughest thing you need to do is to find the proper main thrust bearing, its a little smaller than later blocks and depends on the year of your block. Either that or machine the block, or turn down a cheaper thrust bearing to fit the block. After that, the design is the same as any other FE except with more stable mains
2. Other than no pressure to the lifter bore, is there a difference in the oiling circuit on a 427 CO versus a 428 CJ (does the 427 CO have a completely unique oil circuit)?
Its the same as any 390/428, except it has a relief valve on the back of the block and no oil to the lifter galley
3. With a solid, flat tappet cam, are there still concerns about lobe/wear failures?
You need the right oil, no binding, the right springs, and good assembly. I haven't had any issues in any engine, but if you are concerned, and want to go hyd roller that would be a significant nod to the 428 block
4.Any recommendation for rocker asy if we don't oil-drill the 427 CO block (and use a flat tappet solid?
I love the old Ersons but they aren't available, I am pretty sure the street T&Ds dont require pushrod oiling, have to defer to the guys that have used them. That being said, Precision Oil Pumps, Harland Sharps, pretty much any name brand is going to be just fine.