When I rebuilt my '71 Slant six I decided to convert it over to a hydraulic cam. You will need to do the following:
Replace the camshaft with a hydraulic cam.
Replace the cam bearings since the rear bearing is different in order to pump the oil to the head.
Replace the head with a hydraulic version.
Value cover will also need to be replaced (the hydraulic version is wider)
I was able to change mine over pretty cheaply when it was rebuilt since I picked up a complete '82 Super Six engine with hydraulic cam to use the entire top end on my older block.
I was going for quiet and smooth and I have not been disappointed.
-Matt