i realize the post is 4 yrs old, but for the original application and in my opinion, i would go with the bored 350 option:
a) boring out a 400---too risky in my opinion.
b) You can get decent, NEW, stroker cranks from Scat fairly cheap---to make a 383.
Now, there is another alternative, and that is to go with a NEW aftermarket 400block, either from Gm performance parts (bowtie block) or dart etc. But this can get expensive--i think they start at around $1500.
2) i'm still not happy about the way you parked on MY malibu
@ Gusgusa, i like the 350 tbi choice better for a daily driver for the mpg over the 400.