I re-built mine on a budget, just wasn't an option to go with the 'Big Dog' engine builders. I was shocked at what the final cost for PARTS was, around $4,000. BUT, what started as a simple 're-fresh' did turn into a full blown down to the bare block 're-build', including new custom pistons which were a real 'budget buster'.
A friend of mine runs original iron low riser heads on his older Hi Tech with a 427 side oiler. He's also running a STOCK valve train on that motor! Very reliable but a bit low on horse power, enough to keep him smiling.
You CAN over do the horse power thing! When I rebuilt mine I specifically wanted to 'de-tune' it for better STREET performance. Out with the 12.5 to 1 pop up pistons, gone was the solid roller cam in favor of a flat tappet, dump those 660 center squirter race only carbs and on with some vacuum secondaries. The new pistons provide about 9.8 to 1 compression and the cam has a nice 'lumpy' idle but very streetable. The new smaller carbs have much better throttle response. I calculate I gave up about 150 horse power from what I had. How did that affect performance? Used to run 11.90 at 121 at the 1/4. New motor: 11.99 at 118 with WAY BETTER around town response and DOUBLE the gas mileage!
One thing WAS quite noticable though, the 'explosive power' from the old engine when it hit about 3000 rpm was quite a shock, man that thing was a rocket! Now it's a steady pull up to red line and is quite predictable. That works for me. It's clear I couldn't put all that former horse power to the pavement anyway without running slicks.
I bought ALL MY PARTS through George at Gessford Machine. Now I could have 'shopped around' and saved some money by using different sources for different things, so why didn't I? Along with those Gessford parts came Gessford tips and tricks concerning the FE! I can't say it would work that way for YOU, but the advice I got during my build was indeed 'priceless'. No doubt it saved me far more in trouble than I could have possibly saved 'shopping around' for a better deal.
Marvel Mystery
Oil for the piston/ring/bore installation! Thing of beauty, best darn 'tip' EVER!