[86 TWIN BIRD]

I have a choice between a 350 or a 327 and i plan on building one of them up and putting it into my 86 trans am the problem is i dont know which one would be the fastest... i've heard people say that the 350 would cuz of more horsepower, but i also heard the 327 would cuz of the horse/torque ratio, and the 327 would have more upgrades.... which one would make me have a faster car? ( i want to race it short and long distance)