I'm not building this, at least not in the next year.
But for a street build, that isn't going past 6000 rpm, how to build it?
All it needs is parts that don't exist. A nodular cast iron crank, for a 4" stroke with stock 6.098" rods, and matching hypereutectic pistons.
Callies is offering their LSC 5140 crank for around $540.
Doing a 383 from a 5.7L or 4.8/5.3 block is more piston money than a 408 from an LQ4, but the LQ4 runs $300 more, up front, than the 5.3L.
The extra cubes and flow with the LQ4...
So, for the 383, the budget pistons are the SpeedPro LW2624F, available in 3.898 and 3.908 bores. $714 with pins and rings. For the 408, KB ICON pistond, part number 900, available in 4.005, 4.020 and 4.030" sizes. $601 with pins and rings.
This still leaves a dilemma: what combination of rods, head gaskets and decking. I'll be pondering this tomorrow.
Anyway, moving on to static compression, it can't be figured until the above dilemma is resolved, but the 383 pistons are 5 cc of valve reliefs, while the 408 pistons are 3 cc of valve reliefs.
After I evaluate every possible solution to the above dilemma, I'll post which and why, then move on to static compression.
I do suggest you not consider the 3.908" pistons in a 4.8/5.3 block for the initial build.
Unless you have an aluminum block, it really is better to do a stock-cube LQ than a 383, and SpeedPro has hypereutectic, 4.030" flat tops for LQ9, at $240/set. Is this still cheaper than a 383? Well, probably so. You still have the better-flowing heads.

 

For budget in general and wanting to "build" a LQ4, 370 all day, stock crank, forged pistons and rods and scream 7000 all day with some nitrous if you wish. The 408 wont like high revs on a budget so a 6.0 .030 over is the way to go. The rods are cheap and the pistons arent bad, not to mention not getting the expensive stroker crank.

 

You missed the whole point entirely.
Now, The dilemma has 3 possible solutions.
Either just buy 6.125" rods, or just buy really thin head gaskets, or combine stock head gaskets with block decking.
Rods are the highest cost, and not necessary, so scratch those. Decking is not reversible, not necessary, and also not the least $, so scratch that. Cometic offers 0.030"-thick gaskets, in bore sizes of 3.910", 4.030", 4.085" and 4.130", and they all cost the same, at $127.50 per pair.
Now you can get to figuring compression.

 

Well, i just read budget and stroker, not something i have defined when ti comes to the LS engines ya know.