Ed,
You should have an enjoyable time sorting through the variety of responses that you will get on this one (and reading all the previous posts on this topic).
One thing is certain, the 261 engine is a jewel of a replacement if you want an improvement but want to stay with a stovebolt engine.
848 head w/ new valve and seats ( original rockers and push rods could/should be used?)
> 848 head - Yes, if you have one readily available : just drill the coolant holes to match the 261 - this head nicely increases the compression of the 261 (which is lower than the compression of the 235)
> hardened valve seats - your choice (if you will be high-revving and racing, Yes)
> get new valve springs (Patrick's os a good source of 261 parts and advice)
check and deck (if necess) head and block (adds to compression anyway)
> check - Yes; deck - ??? (others might comment on measured benefits relative to costs)
offenhauser intake w/ dual carbs (i have heard use carbs from 216 motors to avoid over carbueration)
> dual carb manifold - yes, for cool-factor and power
> Offenhauser, Fenton, Clifford, other - your choice (how they look, how they are warmed, and carb mounting posts are points for consideration)
> carbs - I've used original 261 Rochesters and Carter-Webers without problems and with good results (Tom Langdon is a good source for information and parts) - all 216 and pre-1950 235 carbs do not bolt-up to the newer 235 and 261 intakes
> warming - Yes : exhaust gases or cooling system fluid - different intakes and adapter plates work better with coolant vs exhaust gases.
fenton (or similiar headers)
> Yes - whatever suits you (note: new Fentons now seem to come with that black EDP(?) coating (says Chevs of the 40s) - too bad)
60 over bore (obviously new pistons and rings, will the old rods work, should the crank be ground and balanced?)
> 60 over bore - your choice - mine is 60 out of necessity. Some people go for overbore-power; some people are conservative, and leave metal for future rebuilds.
3/4 grind cam (new lifters)
> Your choice - the stock cam is slightly modified from the standard 235 cam (it's nice to state that it was good enough for a 53-55 Corvette's 235) - the measured benefit of a different cam relative to cost would be interesting to see
new/rebuild oil pump
> Yes
short shaft water pump and pump relocator (to fit the 46 stock front and radiator)
> relocator plate - Yes; original-style 1955-1st or earlier pump with the plate has the appropriate shaft length and would be in the correct location (maybe this is what you mean).
- drill the snout of the crankshaft for a balancer tightening bolt
- drill the cam/crank gear cover/etc so the bolts on the lower two bolts may be installed from the outside
- What will you use for the full-flow oil filter (as was standard in 1960 261s)?
Tim
Most likely you have read this old article? Patrick's Langdon's