A well prepared C4 would handle the power without a problem but so would a Ford top-loader four speed.
You can order a C4 built for 500HP from Jay at Broader Performance (
Broader Performance Home Page ) for about $800 and a 4 speed from David Kee for a lot more. It just depends on what you like in a transmission. The C4 will give you manual or auto control over 1st and 2nd gears so you can shift it when you want or let it do the shifting when you feel lazy.
I prefer the C4 because it is less costly and the maintenance is lower (service every 20000 miles) than replacing the clutch in the 4 speed. (I go through clutches quickly as I do a lot of shifting and live in Seattle - the city built on seven hills). If the ground is level and you never get tired of shifting gears and you can go the $2000 for the Top-loader then it is a great choice. If you sometimes like to have the transmission do the shifting and like the lower price then the C4 is a great choice.
It really is up to what you want / need to make you happy.