305 (or even 283) up to 400 do look the same to 99% of the people (assuming outside clues like intake oil fill don't give it away), much like the built 455 in my old GTO that I told everybody was a stock 389.

I could spot the differences, but almost nobody else could...
396 tends to like to rev more, stock 400 does not. 400 SB has some cooling issues as noted due to the siamese cylinder block. Cracked heads are also common in the SB 400 around "weep" holes required by the siamese cylinders.
One other thing. 396 will be a pre-smog motor and probably beats most any typical post smog 454 numbers across the board. Though if it still has the old heads, they may need upgrading to modern hardened seats and valves.
Also, a while back one of the mags built a pair of chevy motors, one BBC, the other SBC, both as close to identical as possible. 400 ci displacement, comparable cams, compression, exhaust, everything. As I recall, the BBC came out quite a bit ahead, thought it cost a bit more. Primarily attributed to the head design and bore/stroke/rod ratios. More than enough to offset the weight difference (though that is just considering power, and weight may have more implications for you than just offset in performance).
And as other's said, the 400 SBC already has some known issues (though not deal killers) and is considered on the "ragged edge" in some respects, the 396 has lots of possibilities and a certain BB cache' as well.
Summay, I think I would go 396…