Will my Combo make 500hp and 500ft lb of torque?

It could quite nearly push 410-460. To get thae last bit, i suggest adding a turb, new exaust (gutted cat if you can do that work around, i imagine so if you want 500horse), and solid air intake. I also suggest a higher octane fuel, and without seeing your current engine, I bet you could get hit that 500 mark on every dyno, and not just a good day. Put it at sea level and youll be running 11-12 in the right body.