Lots of the article below should really help you. The water pump adapter plate and listed water pump is a good idea. I would sure go with the 1960 block and 848 head. Best compression head available and since the block hasn't been bored out yet, it just doesn't get any better than that! Good Luck!
http://devestechnet.com/Home/Project1959235Also, if full flow oiling is something you want, while at the machine shop, for another 100$, they will do that for you.