79T is exactly correct. Journal size has no affect on rod "length".
The BBC rod journal offers less bearing speed, as Geno states. This is probably the single biggest improvement. The rod length is also "longer" in most of the stroker kits we use. This will reduce rod "angle" (the relationship to the crank pin at full "swing"), and moderately increase "dwell time" (where the piston "sits" at TDC and BDC), increasing cylinder pressure ion "power" and increasing "fill" on "intake".
Stock-length Chevy rods are WAY too short for any application in the Pontiac. The 6.8" rod is the most commonly used BBC length. 6.7" is also used extensively (with longer strokes). These "long" rods were developed intitially for using the BBC "tall deck" block for racing instead of heavy-duty.
BBC rods also allow more "choices" for both rod bearings and piston pins, enabling one to "fine tune" the internals to a specific point.
Lastly, grinding a factory Pontiac crank the .050" "under" for using the BBC rods will only "hurt" the crank if the proper radii aren't ground. Otherwise, it can actually strengthen it. That little bit of material removed is not significant. Unlike certain "other" cranks, Pontiacs are all cast, and not 'hardened" in the same manner as forgings, thus not having the undersize "limits" hardened cranks impose.
Jim