Popsracer, I agree with everything you say except about the tulip cut in the crank. this could be dangerous because it could offset the effect of the counterweight lobe on the crank and easily create an unbalanced crankshaft. Take off the lead weights that balance your tires, then imagine that in the engine spinning at 36,000 rpm. That rpm most likely decrease at the hands of an experienced tuner. Porting and polishing an engine is difficult and involves mainly a bunch of misunderstood, or totally unknown, facets of engine function. If you had one of those engine timing wheels, I still would not suggest you do much to the ports on the engine. Most small block engines have short timing spans compared to big blocks and modified engines,so you could enlarge the ports a little , and possibly not harm much, but don't expect much if you're just doing it to see what happens.
Also your fuel effieciency will suck if you start hacking all of the ports.