I know I'll sound like a hypocrit ( not a word I know how to spell)because I like V-8's but I have always been a fan of the 292. It was a work horse and lots of log trucks around here used them in the early 60's. It had more torque down low than a 327. It sounds like you are going to restore this truck somewhat. You still won't be able to speed shift the original trans, I think the 292 is way cooler.
Yes, when I did Deb's 65 C-10, I did replace the 6 and put a 700R4 in place of the 4 spd. But it wasn't 4 wheel drive and had a 230, besides, it's what she wanted.

'65 C-10, 65 L-60, 65 C-80, 72 C-60 & and a bunch of old Chevy cars.
Never time to do it right, always time to do it over.