Another low budget 360 build

Depending on the converter and gears I'd go with the smaller cam. I wouldn't recommend those head gaskets either. Felpro blues are worth the loss on compression. Just my 2cents
My goal is to get the compression ratio to 9 to 1 with the open chamber heads.
Gears will be 3.23 with a shure grip and looking at a 2400-2600 stall with a hd rebuild on the 727 and shift kit.