John, your engine is a lot like mine in my '69 Mach. 427 SO, .017 over, MR heads, MR 2x4 intake, stock steel crank, I JUST switched from a close to a wide ratio big in toploader, locker, 3.89 gears and CalTracs.
I know everybody will vote for the stroker crank. It's easy horsepower and there is certainly nothing wrong with that. But I liked the aspect of keeping mine a "true" 427. Once a stroker crank goes in I can't honestly tell people it's a factory 427 MR Sideoiler. I just liked the link to it being Fords true ultimate FE wedge engine (at least next to a tunnelport)....as it was designed. So I would vote for the stock crank, especially since you already have it. But if the appeal to maintain the "realness" of a 427 isn't there, by all means, go with a stroker.
I did, and would, however, switch to a newer cam. The old designs left a lot to be desired. Even at the healthy durations they have, the lift is miserable due to limited spring technology back in the day. In my opinion you would gain quite a bit by going with a more modern profile with more lift and less duration. The stock lift is around .500 I think for those cams, and that is very tame. Coupled with long durations, which equals lot's of overlap, and it's just not the best design by todays standards. Not that they don't work, you just have to wind them tighter. But again, if your really wanting to stay with that factory 427 image, then I would be tempted to use it. Being my car is more street than strip, I wanted a more modern street friendly profile.
