TH400's are pretty easy to find and will take the abuse of a 454 real well. 700R4's are gaining in popularity now because they finally got their act together - they used to have a reputation for being kinda weak.
The 400 is a bit beefier than the 350 (and heavier)... which is why it became the auto of choice for a long time among the hot rod crowd. I hear some folks are getting good and beefing up a 350 now to where it can be used reliably and save some pounds... but those are mostly drag racers. Their definition of "reliable" is a bit shorter term than mine.
I'm also seeing 4L80E's getting used but I know zilch about those.
I was looking for a good comparison site for you and I found an interesting one on the 700R4 (to me anyway)
http://www.smokemup.com/tech/700r4.phpEither one of the 700R4 or the TH400 will have a real good support base in terms of aftermarket parts or shops that deal with them.
Edit: Forgot one thing... there is a difference between bell housings, so make sure whoever you buy from knows you need it for a Chevy. I'm not an auto trans guru, but I've had it beaten into my head there's three bell's out there... Chevy, "Corporate", and "BOP" (Buick/Olds/Pontiac). The Chevy or the Corporate will get the job done for ya (Corporate fits both Chevy and BOP).
One more edit: While plentiful, neither the TH400 or TH350 have overdrives. If having an OD is a necessity, I'd send you looking for the 700R4. Might try asking the same question on
www.chevytalk.com to make sure I'm not steering you wrong. I'm mostly a T-10 or Muncie guy myself.

[This message has been edited by Boozoo (edited 9/21/2006 6:27p).]