Well..If we are voting, I would go with the V-8.
I like a 283. Since it is out of the truck, I would have the heads done and anything else not too expensive, if money is a problem. While the heads are off, check for wear on the block.
Other things I would do...new fuel pump, a nice broad range intake manifold, rams horns GM exhause manifolds.
Even if the 283 is a dead soldier, V-8s are a dime a dozen.
