Low buck 360 rebuild

For a budget build, just port the head with the valves you have now. Back cut the valves in the head. Fully port the head if possible. Theres more power in this than 2.02's on a minor port job.
Though I myself would rather opt. for a stainless steel set of valves, you did say budget.

If the intake is an Air Gap, it's a RPM. Your good there. The name of the intake is on the manifold somewhere.

The carb is small. Trade/Sell it and roll the money over for a 750 cfm.

A off the shelf cam that will fit into the goal and the rear gear/intake/ported head/carb combo for a strong street strip engine? Whew! The choices and opinions abound on this area! Looking to get as much as I could in these parameters, I'd do a;

Comp Cams XL285HL. This eXtreme Energy Hi-Lift (is the extreme line that takes advatage of the MoPar .904 lifter) cam is givin the description of 2500 - 6500 rpm. A serious street/strip cam with strong mid and upper range RPM power. HI lift design to take advantage of ported heads and single plane intake (Though the RPM performs dead near toe to toe or better than some single plane intakes) w/3000 rpm stall and 9.5-1 comp. ratio. (As a min. of course)
Though you could probably use more gear.

Spec'ed in the catolog as;

Advertised [email protected] all on a 110
........285/297.......241/247....545/.545

Purchase this cam with all the hardware from Comp Cams. It's a package that saves headaches and time. The head will have to be machined for there springs.

This combo should put a smile on everyones face.

Thanks for the info Rumblefish, we were afraid the carb would be a little small so we'll put that on the list of must have's. the cam setup you talked about
sounds good, we'll just have to see if we can afford the head work. I'm comfortable doing the port matching and some minor blending on the short side of the intake port, but a full blown port job might be beyond my experience.