Magnum 408 w/Stock Lifters & Rockers

I've never heard of relocating the rocker studs. I don't know where that comes from. I would simply use the kit from Crane and the Chevy (or Ford) 1.6 rockers and be done with it. Plenty of people have. Of course, there are those badass Hughes shaft mount rockers that bolt onto the Magnum heads, but you said "small pocketbook" and they are about 700 bucks.