In conclusion therefore,
I recommend,
both a higher stall, AND gears in the range of 3.91s plus/minus one gear size, plus the Limited Slip and big-boy tires.
I like a good rowdy Dirt-Jerker2800 TC.
When you do the gears, you will need a new speed-o gear.
When you do the hi-stall, you might as well install a shift kit; and because I can, I would also rebuild the trans.
When you install the 4bbl, you will want to upgrade the trans anyway, and this will want a new governor arrangement; and she will want a free-flowing dual exhaust.
If you contemplate a cam-swap, to anything with over 40degrees of overlap, she will want headers. I would not stay with the 318 logs , after the 4bl goes on.
Having done these kinds of swaps since the 70's,
these are my opinions.
You will not hurt my feelings, if you start with the 4bbl. In fact, if you post your time-trials, you can prove me wrong! ; and I'm Ok with that too; all I ask is that you be accurate and honest.