Well.
In favor of the FE, the low, medium, and high rise heads offered from the factory were rather sweet options, and as for the "no replacement for displacement" statement, if you got a 427 block @ a 4.23 bore and installed the 428 @ a 3.984 crank, you could get just under 450 cid with the standard bore

4.23 X 3.984 = 448
and with the recommended maximum .030 over bore gets you
4.26 X 3.984 = 454

That's only 6 cid shy of the stock 460.
4.36x3.85 = 460

Install the high rise heads, intake, and a few other go fast goodies and I think a 454 FE could give the 460 one H3LL of a run!

Stroking the 460 is another thing!