I have a few questions regarding a rotating assembly... First off, Which one is better, Eagle or Lunati? And How much horsepower and torque gains are usual with this set up? Any help is greatly appreciated

I spun a rod bearing if anyone was curious

 

It's hard to say which one is better because they aren't in the same price group, but for 99% of people, the Eagle is plenty strong enough to take whatever you can throw at it. If money is no object than you have to go with the Lunati kit.

Most people with 383's and good heads/cam/bolt-on's make about 465 - 475 RWHP and 450 - 460 FT. LBS. of torque.

 

What are your goals for the car?

 

I just want to hit mid 11's as a daily driver(4 now)...And eventually make it a drag car...

 

383 will make the power you're looking for w/o too radical of a setup. you can hit mid 11's as a 346 with a healthy cam. with a well built 383 you can look at high 10's and a car set up for it.