IF staying with the factory iron is the course in which you travel, the option of a Magnum headed "LA" engine is a interesting idea. I myself would not travel this route because;
1; I like the "LA" head better. For it is a bolt on without issue of crossing over parts.
2; Any cam can be used, without any extra trick part.
3; The extra lift the 1.6 rocker ratio has on the Magnum head can be obtained by new and better than stock rockers @ a 1.6 ratio from many manufactures like Crane, Comp, Hughes engines, etc....
4; IF I was to do a Magnum headed "LA" combo, it would be well prep'd Edelbrock Magnum heads.
Now, what "I" would do is sell the old iron heads and go the above route if the Magnum/LA combo was a itch for me to do. What YOU do is purely up to you. I do not know where you stand on the performance aspect of this build. I myself am seeking a more than average power build in the next mill to be done for the "Hot Rod."
On the regular build, it'll just be a basic rebuild on the 360 with a very mild cam and prep'd "308" heads if they check out OK.