In my opinion your money would best spent building a mild street 261 or 302. Use the stock head and have a professional port and polish job. Should be more torque and acceleration than you'll ever really need for the street. Plenty of low end and mid range power to show off, do doughnuts, burnouts, etc., and still provide a reliable daily driver. You can certainly get away with building a 225-250 HP 302 (w/cam, small 4 bbl, headers) for less than the price of just the bare 12 port head.
Your common sense (and wallet) will thank you later!
-ftyler
