Hold on -- To your point about the "Numbers Correct" restorer ... The numbers he (or she

) is concerned with are the casting numbers, date codes and serial number on the outside of the block. If we're doing all this on the *inside* of the block and thus unobservable unless one disassembles the engine to check everything on the inside (which, to my limited knowledge, is not a part of AACA judging ... ???), anything done on the inside would not alter the originality of the block itself -- it would still be "correct" to the truck, ja? It would still be Grandpa's original engine in Grandpa's original truck to the casual (and even the not so casual) observer? Perhaps an AACA or VCCA member (Tiny?) could offer a viewpoint here.
It seems to me that what you are talking about here is not only entirely doable and opens up a world of affordable driveability for the average restorer, but may even be an avenue open to all but the most fanatical of restorers.
To all of us with "original" trucks -- who wouldn't want to keep that original 216, but have it modernized and improved on the inside to enable modern driving pleasure?
It's brilliant, I say. Brilliant!