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well the toploader 4 speed was the transmission that hooked up to the 351 and anything bigger, other then the c6 auto. so the toploader can handle a 351 but im not sure how much horsepower it could handle above the 290 the 351 puts out. probably no more then 350
a toploader will hold up to much more than 350hp... plus its the torque that destroys trannies for the most part. but for the build it seems like your doing you will not kill a toploader provided there is not something wrong with it