If you are updating the 216 anyway. just get a 235 with a rocker cover kit to make it look like a 235. Save yopurself a lot of time and money. A standard GM alternator, 1 wire or 3 wire is fine. And then the compressor and kit. There are all sorts of 4 cylinders out there that come standard with AC so it's not going to kill the power. (that much!)
Worry about the pulleys and general setup of the belts and you should be in good shape. And at 60 mph with a cool cab on your way to work, no one's looking at your engine anyway. The compressor sure won't be stock looking, so why worry about keeping the 216? Guys give away 235's all the time-check the swap page.
While your swapping rear end gears, get a catalog from Patrick's. I believe he has some AC items for 235's in the catalog,
