I think it is correct that a manual valve body is required for really high horsepower from a C-4. I think Performance Automatic told me that their non-manual C-4s were good for 750 HP. In fact, when I first put the C-4 in my Mach 1 it had the normally shifting valve body, and the engine was the 706 HP 511" FE that I ran at Drag Week in 2005. I had the same thoughts as you; I didn't want to mess with manually shifting the trans. But I never could get the transmission to shift right, and in the end it turned out that the engine just didn't have enough vacuum for the vacuum modulator on the transmission to work properly. So sometime during the summer of 2005 I swapped my valve body out for the manual version. Shifting manually turned out to be no big deal, and I have never thought of going back to an automatic shift on that car, or any of my automatic cars. Also, I have been able to retain the stock shifter; it requires a certain touch on the track, but again I was able to get used to it pretty quickly.
In short, I wouldn't let the requirement for a manual valve body keep you away from the C-4...