theres no reason 700 shouldn't hold up to your zz383. just need to get a good "street strip" version of the trans. be sure it has the "torque-drive" input shaft/drum assembly (heavy duty) and if you want bullet proof, get the upgraded planetaries. Get a good converter such as a transmission specialties 10" xtra low stall. i believe they say its around 2500-2800 rpm stall. You can decide if you want lock up feature or not. If you can hear the cam (moderate to large cam) id say non-lock up myself. To me it pulls the motor down too much unless you got some gears in the rear. (it should pull the cruise rpm down 200-400 rpm lower than if you went with a non-lock up.)
I know a guy that has a 700 behind a zz383 crate engine that he swapped heads to dart 230's and put a 6-71 supercharger on. Has a transmission specialties low stall-xtra heavy duty blower convertor. He took the car to local 1/8th mile dragstrip and ran 6.44 pedalling off the line because his wheelie bars were too high after he changed to 32x15 slicks from the DOT 31x18.5 hoosier tires.
heres the car. its an ex super gas 9.90 index drag car that was converted to be street legal.
http://www.sugargrovecars.com/Custom...ld%20Cobra.jpg
http://www.sugargrovecars.com/racing/goinpostal.jpg