While you have the engine apart, have you considered the performance modifications available on the engine? For example, you can swap a mid-80s 250 head on to the block, which will give you larger intake and exhaust valves, plus a larger ID intake log, ports, and runners. Just mill it to keep the compression ratio up. You can zero deck the block, which is even more effective than milling the head, since it does not alter the shape of the compustion chamber, as would milling the head. The original Ford head gasket was a steel shimmed gasket with a compressed thickness of .025. Headgaskets made now by FelPro compress to around .050 and by NAPA, about the same. This means your compression ratio will drop about .4 or so just from swapping head gaskets. You need to mill .025 off of the head or block to keep the compression ratio stock. There is a special high performance head gasket which compresses to .038, but you have to call the maker direct to get the part number as their catalog does not list it. The maker's name starts with a "c" and I am having brain fade on the maker. If interested, I can research it for you since I bought one!
You can also get roller tip rockers, valve springs with more seat pressure, light weight, one-piece valve spring retainers, a higher lift cam, etc. The engine will look bone stock, but have more power. Of course you can also open it up more with headers and a 2v carb, if you don't mind departing from the factory look.
If you really want to get extreme, you can replace the head with a crossfire head made in Australia. This is a head that has a separately cast and bolted on intake manifold, which allows you to do wonderous things with the carb - such as a 4v carb or tri-power.
www.fordsix.com has a good tech forum on this stuff.
good luck.