A destroked engine based on the 4.0 block with a 3.00" stroke crank and 3.905" bore (0.030" overbore) would be sweet and make for a fast revving engine, especially with a forged crank. The only problem with your proposed setup is that the Silvolite pistons won't work and here's the reason:
Deck height = rod length + stroke/2 + piston pin height + deck clearance
Assuming that you're using the 4.0 rods, let's substitute some numbers into the equation:
9.453 = 6.125 + 1.50 + 1.581 + deck clearance
Deck clearance = 0.247"
So the pistons will be nearly 1/4" down the hole at TDC. Not viable, but there is a solution. Get a set of custom forged pistons made (if you're supercharging, they'll be far better than Silvolite cast units anyway) with a pin height of 1.828" so that you're left with zero deck clearance. If you then use a Mopar Performance P4529242 head gasket, quench will come in at 0.043".
I suggest that you go for an 8.5:1 CR and use 8psi of boost. That way, off-boost response will be more lively than using a 7.5 CR. The only detail left is to calculate the piston dish volume that you'll need to get an 8.5:1 CR:
CR = cylinder volume/total combustion volume + 1.0
Displacement will be 215.6ci or 3533cc (3.5L) so cylinder volume is 588.8cc.
7.5 = 588.8/total combustion volume
Total combustion volume = 78.5cc
Total combustion volume = combustion chamber volume + head gasket volume + deck clearance volume + piston dish volume
Substituting some numbers into the equation:
78.5 = 56.7 + 8.8 + 0 + piston dish volume
Piston dish volume = 13cc
In summary, this is what you'll need:
4.0 block (not decked)
Eagle forged 6.125" rods with ARP rod bolts
199 forged crank
Custom forged pistons with 1.828" pin height, 13cc dish, and 0.931" piston pin bore
2.02/1.60 big valve head (not decked)
Crane 753905 cam
With ML header, 2.5" exhaust, K&N intake, Flometrics 68mm billet TB, and custom chip, this setup would produce 238hp @ 5500rpm and 257lbft @ 4000rpm in naturally-aspirated form.
With 8psi of boost from a Vortech centrifugal supercharger, you're looking at outputs of 363hp @ 7000rpm and 318lbft @ 5000rpm. Woohoo!
Balance the whole bottom end to ensure maximum smoothness and enable the engine to survive 7000rpm. Use Mopar Performance HD main bolts and 258 main caps for maximum strength.