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31 cubes for the same price, weight, work. In your planned tune level, that's 40+ HP at peak, and more torque all the way through the scale.
Gas mileage? While at one point, the 460 could be seen as a fuel-sipper compared to BBC and even some 350 Chevs, it was a relative comparison as the whole lot are gas hogs. Thus, the 7.9 mpg you get out of a 460 is relatively worse than the 8.2 you might get out of a similarly equipped 429, but the difference is meaningless in actual application.
The first step in building a 429 for 500-600 hp would be to add a stroker crank. You can take them out to 600+/- CID pretty easy.
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