If you need a NorCal machine shop I have S&S Automotive in San Leandro, CA build all my motors. Ex-NHRA guys. They did my Buick GN turbo V6 stuff back in the day and now LS motors. They ship worldwide and know their sh*t.
In a nutshell the LSx block is overkill... plus is a fat pig. An LS alum block is around 80lbs. An iron block is another 80lbs or so heavier (160lbs total approx). The LSx block is yet again another 40-50lbs heavier than the production iron block.
If you want 700rwhp you can get a 2005+ engine that has LS2 rods, upgrade the cam/springs/pushrods, LS9 head gaskets, ARP studs, turbocharge it, install bigger injectors, upgrade the fuel system, tune it and you are good to go. No need to build an LS motor with only 700rwhp. The limit of 4 bolt style production heads is around 1000rwhp safely. You can certainly make more.. but the head gaskets will eventually let go. Thicker deck aftermarket heads help at the big HP levels for head sealing. There are a number of cars with forged bottom ends and stock LS3 heads/intake making 1000rwhp+.
If it does pop.... then build it. With the proper tune and quality fuel you shouldn't have issues. For extra measure you could open up the ring gap on the pistons and install rod bolts.
I'm building my car with an '08 alum 5.3 (stock shortblock) with ported 5.3 heads (not needed), LS9 head gaskets, ARP head studs, LS6 intake (not needed), small 225/223 cam, ported throttlebody (not needed), with a medium size TC78 turbo and shooting for 750-800rwhp on e85.
Most of the time I'll putt around with 550-600rwhp and turn it up when needed
If you have the extra money run an LS2 or 6.0 iron block, stock LS crankshaft, some good forged rods (CompStar), and JE/Wiseco/Diamond forged pistons. That will handle 1000rwhp+ with a good tune.
My buddy has a forged LS3 with ported LS3 heads/intake running a GTS76 turbo on e85 and makes 620rwhp on 3.8psi. 750rwhp on 6psi...960rwhp on 14psi. No issues with his setup and he runs a stock LS3 block/crankshaft.
Here is my engine bay awaiting turbo fab.
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Project: 1969 Chevelle, alum 5.3, GTS76 turbo, Chiseled Perf A/W intercooler, Holley Dominator EFI, Davis TC, JRi coilovers, 14" brakes, T56 Magnum. CTS-V Recaro seats!
Coffey Fabrication Nashville, TN doing the fabwork! 800rwhp+/25mpg+/9's@150mph goal
https://lateral-g.net/forums/showthread.php4?t=52976
1993 Mazda FD RX-7, built LS7, T56 Magnum, Holley HP, Davis Tech TC, 8.8" 3.73 Cobra IRS diff, DSS axles, Ohlins coilovers, big brakes.
CCW 18x11 front 315/30/18's and 18x12.5 rear on 335/30/18 RA1's,
2850lbs
10.31@137mph 165mph Shift-Sector 1/2 mile speed
441ci AllPro headed motor and 200lb weigh reduction in the works....