Is this possible?

I will bet it all. They came close but it was not Ford. Say you got the fastest car ever. On it first outing at the salt flats, this car broke records that had stood for 30 year's.
All with a "289". You later sold this car, and the millionaire that bought it complained about how expensive it was to keep it running. I lived thru this era, gas was 25 cents -thirty cents tops. 289's were cheap. Almost everything ford/mercury made then- had them falcons, comets, mustangs , cougars even.
Not going to mention name's so you fill in the blanks.
Keep in mind, if you take a 289/302 throw a 2x4 setup on it and you got one wasted carb. Do this on a 377 and it would make sense.
By the way the Australian 351 XE block will bore out to a stroker 377, the De-Tomaso (pantera) crowd can verify this.
Tech links:
http://www.carmemories.com/cgi-bin/viewexperience.cgi?experience_id=869
http://www.carmemories.com/cgi-bin/viewexperience.cgi?experience_id=868
If anyone wants the rest of the story, I guess it be better, if we take it over to the talk section.
 
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The reference to a 377 cubic inch motor.....

This was a very common Cleveland size as the crank would be offset ground to a 3.7" stroke I believe. This was before the common stroker kits and nowadays 393's and 408's are the common place.

As for a 351w crank, heck pull the pan and measure! No point in speculating, and you might as well know what you're working with.