While that 67 block comes with 'family sentiment' there is another 'sentiment' to consider. Thats a very rare original side oiler block, not many of those left. For that reason alone I'd build it to near original specs (flat tappet cam), including iron heads! But hey, thats just me. Heck I'd be tempted to go with a dual point style distributor as well.
Originality policeman pounding the beat...