It will handle I think that much, but I would expect to go into it every other year, depending how much you run it hard. Will it brake with that much power? Yes, when, who knows, but I bet you can get a season out of it. With that much power at the rear wheels, you will have bigger problems with the rear end, and transmition. I shoot 150 shot on top of my motor. It dynoed 457rwhp with the shot. I broke my trans two months ago while not shooting the juice to it. But I had at least 30 passes on the juice before it broke. I had the trans modded bigtime and expect to not have problems with it with anything under 700 rwhp. But I do expect to go into the trans once a year if I ever reach that kind of power. As for my rear end, its held up good, but I do have traction problems. My best 60' has been 1.8, Once I get the traction under control and with this new cam and the 150 shot on it I bet I destroy the rear end. My motor never had a valve cover off it until last weekend when I installed the new cam. Everything in it was stock till last weekend. I bought it new and put the juice to it within a few weeks after buying the car. I drive the **** out of it every time I get in it. I use to work offshore and drove it to work 750miles one way every weak, looking for anyone to race along the way. Been threw 3sets of tires on the rear of the car, hit 150+ mph on the highway at least 50 times. It now has 67000+ miles on it. All of wich are driving like a mad man. I have a 408 build going on for right now, but I plan on giving the factory motor hell until the 408 is finished next year. I do not expect to see it let loose on me, but it could happen.
So I would say, your good to go with the engine but look out for trans and rearend trouble with that much power.