Small Blocks can make huge power...BUT at a cost of Reliability. Whatever is done to make the SB make huge power, has to be done in equality to the BB therefore, leaving the SB behind always. The Stroker BB route seems to be the "Budget" friendly way to big power, yet fairly reliable.
There's a pretty good Signature on here I think that says it all when making big power.
"Cheap, Fast, Reliable, Pick 2"...
I'm thinking the SB 727 should be roughly the same in length to a BB, so driveshaft should work.
On T-bars..Depends on how you want the car to handle. Usually with the BB, MOST upgrade the T-bars to at least BB factory bars, Like an R/T would have come with.
I have run 'em both ways, but with the SB bars, the car tends to be more "Straight line" than "Cornering". There's a huge difference in my S/6 Dart with BB and S/6 T-bars and driving my GL with BB and BB T-bars. I'd go with the upgrade T-bars just to be safe.