a 502 will make tq like its going out of style no matter what the hell you do to it but you guys are forgeting one factor here. Fuel injection.
over 500 ft lbs from 2200 to 5200 rpm topping out at 565 ft lbs of tq at 3400 not to mention 502 ponies. not too shabby
All forged etc heres the link
http://www.jegs.com/webapp/wcs/stores/servlet/CategoryDisplay?storeId=10001&catalogId=10002&catalogIdentifier=Jegs_Direct&categoryId=21351&parentCategoryId=10763
Yeah you might be able to build a 600 horse bb for 6g's but you forgot this thing is fuel injected and tuned just about perfectly from the factory. It'll run where carbs will stall, won't need constant tuning in different altitudes and get better gas mileage.
If the ram jet 502 is the same type of FI setup as the ram jet 350 then you can make minor mods to the fuel map with the existing setup but nothing major... infact your pretty much stuck with that unless you can program FI.
Put into factor the time, blood and sweat of finding the right efi stuff doing the research and figuring out how to tune(believe me its not for everyone, I'm in the middle of just that right now) and its not as horrible as it may sound but still a little pricey.
I'll have a mpfi 440 hp 475 ft lb N/A smog legal(yes i said smog legal) sb using afrs, edelbrock mpfi, a prominator, wideband, etc for about 7g's but its no joke. Efi is very complicated but your average joe can do it if they have the attention span to read through the stuff on thirdgen.org. It just takes alot of time. The ram jet is a badass motor but its hard to justify spending that kind of money on something that you can't modify without spending another grand or so on the efi then again its not like its low on power. As you can tell I'm on the fence.
If you got the money more power to you.