I'd say you may have a little more power than you think with your phase 1 settings, especially if all the cams are in perfect sink with one another. How much boost are you going to be able to get away with? I like you plans, sound like a great project.
Oh yeah, I was conservative in my prediction because the engine is new. They always seem to make more power after they 'loosen up' some. The cams are set with the Ford timing procedure but have not been degree'd beyond that. The plan is to eventually update to a set of custom cams. I'm going to set it up with a flex fuel sensor because E85 is available really close to home.
Now about the boost. @lwarrior1016 set the rings for 20 psi and I'd imagine that would be pushing it on pump gas. If I want to keep the flex fuel option, I need to think 13-15 psi, to be safe. Currently, with the 3.5" pulley it came with, it has been said to make 13 psi with a stock diameter lower pulley. The my wife's S197 has a M122 that makes 10 psi and it's a riot. I can't imagine why 13 psi with a little higher compression wouldn't be enough for me. For awhile at least..