Aaron, You can use the Trick Flow Twisted Wedge Heads with this Ford Racing Short Block but a better choice for an engine of this displacement would be the AFR 185's. With this many cubic inches you need a cylinder head with more flowing capacity than that of the Twisted Wedge. As far as camshaft selection, I would need to know more about your intended use of the car, tire size, gear ratio, transmission, etc...to make a good recommendation on that. In any case I would highly recommend the piston to valve clearance be checked when assembling the heads, cam etc..as this short block has much closer tolerances with regard to the deck height and piston to valve clearance than a production 5.0.
Aaron,Not necessarily.Since you already have Twisted Wedge Heads that have been reworked than I would use those and still follow the same procedure on checking clearances etc... The TFS heads are a great design and should work well.
Sounds similar to the setup on my personal fox. I'm running a 347 with a v3 and making 520 rwhp and 530rwtq. But yeah switching it over to the 363 will be good for you. But yes a good set of heads is definitely worth every penny. Especially for what your trying to do and your build.