As a slight comment;
It's not horsepower that breaks parts - it is torque.
While horsepower is mearly a function of torque, a discussion of what peak HP a part can hold is largely irrelevent as typically one sees peak HP at a fairly high point in the RPM range. Yet, it is the torque produced at a far lower point in the RPM range that tends to break parts. Why? When does a driveline component other than the engine break while drag racing? 95% of the time it's at launch, eh? What RPM do you launch at? Well, typically the torque peak of your motor.
Your 401 will produce considerably more torque at the RPM that you launch it at than ANY small displacement/turbo motor.
While the supra boys launch at their torque peak (or below it if they're XXXXXXs), typically once the turbos spool, this is a MUCH higher rpm than your 401. Since it is a higher RPM they are making less torque to produce the same amount of horsepower...
Was it not Carrol Shelby that said "Torque wins races, horsepower sells cars"? Ultimately he is somewhat wrong, but that's a whole different story.
However, I think the tranny is plenty strong regardless.