That's definitely "possible" but so is the possibility that you'll be looking for a new engine, you'll have to make the decision of risks vs rewards.
Yes others have pushed their engines to 500+ hp with no problems (yet) and others have put a rod through their block with 425 hp. I sometimes compare stock engines to people, some people live a hard life and live to be a 100 years old while others seemingly live a somewhat mild life and are dead at 60.
If you're looking for more grunt off the line I would suggest changing your gears to 3.73 also if your car is running that Paxton diablo tune with the mafia add-on I would certainly consider ditching that tune for something better but not necessarily more aggressive.
I would strongly urge that you don't try to wring out anymore horsepower from your setup. We are talking about a 10 year old engine, yes I know your car has low miles but its still 10 years old, that was never designed nor intended for 500hp. If you really want that additional hp I would suggest you have the internals replaced with forged parts.
Steve your always the voice of reason, but I decided after all the banter to leave it as is. Your also so right, this car even with 1500 original miles it is still 10 years old so the adage of engines and old or young people and weighing the options, I'll leave it stock. It is still a very fast car and I really love the out-of-the-hole launch......straight as s string, to quote "Whitey".