Ouch, $1100 for a head that's probably going to decrease low end torque on a stock engine, no thanks. It also worries me that they see all those coolant passages in the head as a bad thing....
What kind of power upgrades are you going for here? More top end? What kind of durability are you going for? Are you thinking forced induction? It's really going to depend on how you use the truck. If it's a daily driver and all your looking for is a little more power, a cam and head swap might do the job, but you might sacrifice longevity. I understand where you're coming from, but I've never really been a fan of just adding a "little" power. I usually leave my daily drivers bone stock in terms of powertrain simply for reliability reasons. Otherwise, you might as well go all out. Just my .02.
And for all you still wondering what a magnehelic is, it's a brand of delta P gauge. And there's no reason to get into the ever popular cold air intake "discussion" here. Tempting as it may be