The stock springs are way too soft to use. I used a new set of the "Boss 302 Chassis Modification" springs with a 1" polly spacer, Koni shocks, -3/4 degree camber, 3/16" toe, 1-1/8" front anti-sway bar.
On my '68, I went with the full 1-1/2" drop with ball joint spacers. On that car it has JBA headers that tuck up better but it has no ground clearance issues.
Tires are BFG 235-60-15's on 10 spokes. You can put your fingers between the tires and the fender lips.
The big block is different because of the added engine weight. The only thing that you can do there is put the battery in the trunk and go to an aluminum head. Then the chassis travel will work for you.
One factor that few notice though on the 500 is that the engine is installed about 2" further forward then the small block so all things are not equal, BB vs. sb.