first off, welcome to the site! and it sounds like you have a really nice hot rod on your hands! posting pics would certainly contribute to the blood flow around here.
as per your question, the 400lbft of torque goal can and has been reached with your double humps many times with your displacement. if you want to keep all of your numbers matching gear and make more power i would recommend looking into porting the stock heads ( as the cylinder head and its airflow capacity is usually the biggest bottleneck to unlocking real power potential) and then port matching the intake manifold to those heads so as to maximize all the effort you just put in. as always on grumpys performance, theres no shortage of reading materials and when taking on a port job it would be wise to read these links (and their sublinks) carefully, a couple times, to make sure you grasp the job your about to undertake before you start carving them heads up like a jack-o-lantern.
another couple ways to go quicker with your present combo, first, would be to swap out the ring and pinion gears, i understand the 4spd doesnt have an overdrive gear so its really your preference but 3.73 or 4.11 depending on your comfort level will certainly wake the car up.
heres some related info:
next would be to get yourself a larger (cfm) and more modern design of carburetor. (the shortcut formula to find a carburetor cfm size is roughly CIDxRPM divided by 3456) where rpm will your intended shift point (plus 500 rpm to account for overspeed) and that should get you a cfm number more commensurate with your intended use.
if the car doesnt have a well thought out exhaust with appropriately sized headers and low or no restriction piping then you can also make huge gains in that department.
and lastly once the whole combination is laid out the final piece to the puzzle would be the camshaft. theres plenty of info on this forum about different camshaft selection ideas... heres a couple to get you started.
i know that seems overwhelming but believe its better to learn everything you can about the stuff BEFORE YOU BUY PARTS than afterwards... ive only been on this site a year and its saved me alot of money and headaches being able to share ideas with these guys while they are still in the planning stages, instead of coming here looking for internet diagnosis to problems i could have avoided. thumbs up and please post some pics of the camaro i love me some muscle cars.
SAFE piston speeds are best restricted to 4000fpm for stock components and 4500fpm for the better common aftermarket components
if your serious about building a performance engine you might want to consider a BBC over a SBC
you can generally expect to get between 1.0 to 1.3 ft lbs per cubic inch of displacement and 1.0 to 1.3 horsepower per cubic inch of displacement on your average street/strip daily driver SBC or BBC engine build
how the big block and small block engines differ. The answer is not only in displacement. A small block Chevy motor can be stroked and bored to over 400 ci . it comes down to bore centers. and much stronger OEM blocks and generally better flowing heads, The small block has bore centers spaced 4.4 inches apart. On the big block, those centers are at 4.84 inches.
as a general rule you can build a 396-402 BBC that can outperform a 400 SBC, you'll have a difficult time finding SBC heads that flow more than 310 cfm at a decent price, but many BBC heads flow in excess of 350 cfm, especially if mildly ported and aftermarket BBC heads that flow over 400 cfm are available
keep in mind your basic BBC With more metal separating the bores, there's extra space for cooling galleries and added potential for boring-out. Further, more metal means a stronger block. cranks and rods and the basic BBC block are significantly stronger than the average OEM sbc parts, If you're looking for big horsepower from your muscle car motor, a big block might be the way to go.
read these threads