I asked Doug at BBM about the weight a couple months ago. He told me 250 pounds. I don't have one to weigh, but it would be interesting to know the exact weight. Maybe the 270# Jay referenced, was a small bore (428) block? Or possibly a shipping weight with pallet? The small bore blocks have a 4.180 bore, for 428 stock and super stock class engines mainly. The cylinders walls are real thick... like well over .400 on a 4.245 bore as delivered, so even more on a small bore. Also I believe it is solid below the freeze plugs, similar to a "short fill", so some weight there, and the thick decks, massive caps... it all adds up. I think the Pond iron and side oiler garage are all around 250 or so as well.
Joe is correct that blocks do shed some weight when boring chips hit the floor. The A460 block is real heavy and when they bore it .125 over it loses some weight big time. I don't know if I would go 4.390 right away, without checking ring availability anyway. I think maybe around 4.375 as you can get a nice ring pack for several bore sizes between 4.375 and 4.400, for future rebuilds, availability can get real spotty after that. Supposedly the max bore is 4.440, but I would start worrying about head gasket sealing between cylinder at that size maybe?
One other thing is, iron blocks will make more power and can go bigger. You won't find any aluminum blocks in Pro Stock, most Comp eliminator engines as well, where budget is not an issue, HP is.