Gotta figure out what you're going to do with it.
For me it's a play car and backup vehicle:
Mine needs to be reliable, turn-key and well behaved - looking for more grunt. (Double, actually)
New 1998+ head, large valves, milled .050", ported for street (stock port profile, high velocity), beehive springs, hardened retainers/keepers, cam is 260* duration, high lift for bottom end torque and no "rumpity", set "straight up" with an Essy adj. timing gear.
Bottom end in the works: .010"/.010" under crank, Clevite 77 bearings, sealed power coated HE pistons (Std bore or .5mm over), Total Seal rings, stock rods refit with ARP rod bolts, torque-plate bore/hone to size, ARP flexplate bolts.
I'm setting the rev limit at 6,500 (7,000 max) since the cam is good for 1,500-6,000.
Looking at minimum 170HP to the wheels, smog compliant, 30MPG, on pump gas.
More on E85.