Update:
It's been a while since I posted any info on the build......thought I'd give y'all the latest.
A few things have changed in the 500 build.
First.....there was a mix-up with my cam. They sent the VT10 instead of the MT10 I ordered. Al (at MTS) offered to fix the problem and send the correct cam out the next day. I asked him what the difference was between the two. He told me and I decided to keep the VT10. The VT10 is an Erson cam and the MT10 is a Comp cam. The MT10 has a high lift, short duration. The VT10 has a longer duration and less lift. He said they both do the same thing, they just have different ways of doing it.
The block was bored .060 over and decked (not sure how much) and the crank ground .010.
I had them tap the oil galleys at both ends of the block and also in the lifter valley for threaded plugs (per the "Big Inch" book).
The block was drilled and tapped (just under the thermostat) for a heater hose fitting. Now I don't have to worry about clearance issues with the original fitting at the rear of the right head.
I went to the machine shop today. The short block is finished. Now they have to do the heads.
I DID decide to have a little porting done and bigger valves installed. I figured the cost will be minimal concidering what the total build was going to cost.
Friday I ordered the shaft rocker set-up, Edelbrock intake, Pertronix distributor conversion/coil, MSD 8.5mm plug wires and a few other odds and ends.
That's where it stands now. Hopefully I'll have it back in the next few weeks (the machine shop doesn't work very fast

).