@Guitarplayer - the 'best' grounding will be to accommodate the highest current flow - that rule counts for both the Positive and the Negative current paths.
Your starter is far and away the highest current, so you ideally want the lowest impedance between the starter body and the battery negative.
The next highest current consideration would be for the Headlights. Beyond that currents drop off considerably.
So plan accordingly with that simple rule.
I would personally go Battery Negative to Bellhousing, and then from there to frame - that is indeed what Chevy did with my 51 with battery under the passenger floor
But also fine would be Battery to Frame (since it is such a large conductor in its own right) and from Frame to BH
Without any compex electronics sensitive to ground voltage drops or loops, you don't really have much to worry about with a vintage truck and it's not going to make a lot of difference whatever scheme you use.
On the 235 config in the donor car (58 DelRay) the battery was located in front right and the battery negative lead directly to the front of the head.
'51 Chevy 3100 Truck - OEM 216 Engine; three speed column shift transmission
6 Bolt disc conversion with dual master/vacuum booster
12V alternator conversion.
235 engine in waiting