What all have you done to the car already? Heads/Cam doesn't sound too expensive, but everything included to boost the car's performance with the H/C package adds up fast, as I've learned. You will need the boltons, which you understand already, and you say supporting mods, which I would guess to be springs, rods, oil pump, timing chain, rod bolts, and gaskets (lots of that can be included in H/C packages from the vendors). With that ~500hp motor you will also need a new clutch if you have the stock one still as well as a stronger rear end than the 10 bolt; the stronger rear ends like the 12 bolts are $2000+ new, and may be hard to find used. If you go new then you get to customize your own setup though (4:10 or 4:xx gears), so that is advantageous.
Gas mileage with 500hp and 4:10 gears = booo. 15/23 I'd estimate. If you're easy on it maybe something like 17/25, but who goes easy on 500 horsies?
As for flycutting you may be alright with the ms4, depending on the size of the combustion chambers. I haven't researched that cam but I see a lot of people with it that will surely chime in about what size is safe for it.
Good luck!