Advice needed...

I was faced with the same question on my restore.
I ask myself do you want to race it or drive it.
The answer: Drive it.
318 works great. I can make it look good and still get about 21 MPG if I stay off the 4BBL. on a trip.
As for headers. Looks good, works bad! 318 needs some back pressure and if not enough sorta messes up the efficiency. Also every RR track and speed bump you hit scrapes.
So I am going with a Edelbrock Performer intake (Polished) and Edelbrock Endurashine 650 CFM 4bbl carb and stock exaulst manifolds Power coated. Dual exhaust.
If you want to race it then build a 360 with good trans and rear.
If you want to drive it then use the 318 and make it look good and run efficiently.
One mans opinion!