Looking at the block casting numbers givin, that block is in fact a 1968 396 2-bolt main, perhaps this block was used in a truck application too. There is actually no difference in a 427 and a 454 block, both bores are 4.250, that 396 factory bore dia. is 4.094. If your wanting to build a nice boat engine on a fair budget, try and find yourself a nice OEM 4 bolt 454 block, cut it .030 or .060, a nice GM steel crank will do fine too, or a nice aftermarket 4340 is nice also. GM 3/8 steel rods with ARP bolts and a set of forged pistons will also do fine. Everything depends on how much power you want to make and how fat your wallet is...LOL