For any build, make sure everything inside is clean, properly lubricated, clean, properly torqued, and clean. And oh, yeah, did I say clean?
Stuff on the outside can be changed relatively easily, but you don't want to have to go back inside, after squishing gaskets and putting on a nice paint job, just to fix something that shouldn't need fixing.
I'd go with a Holley 500 carb and cast iron headers. I think the limiting factor will be head flow, so you might consider some port work, to enhance the cam. FI might give better mileage, but I don't know much about the setup.
Good luck, and have fun.
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