If i did this swap i would keep as close to original as possible so if i ever want to i can put back the 235 and hydramatic.
One of the problems to overcome when putting a V8 in an AD truck is getting the left manifold to clear the steering column and box. On a 389 you also have the starter on the left side. It is going to be difficult to "keep as close to original as possible" while overcoming these problems.
Of course it can be done but it is going to be work. And it will be way cooler than a SBC engine.