318 combo

the more I read about the eq heads the more I like them. from what I've read on the hughes website it seems that if you use standard rockers with a flat tappet cam you need to machine the pushrod tunnels, but if you use a roller cam you don't. if that's right then would it make sense to spend the money on rollers rather than machining?

I haven't found this to be true with factory Magnum heads using a .454/.475" lift flat-tappet cam, although the pushrods did come very close to touching the holes in the heads. If anything you might just need to clearance them with a hand grinder. I'd mock it all up first to see if machining is necessary. And even if it is it should be way cheaper than converting to roller lifters which is several hundred dollars at the very least (probably more for you since you're on the opposite side of the world lol)

Like Abodybomber said you need AMC-style lifters with oiling holes, hollow pushrods, and Magnum rockers+hardware. Really not much, altogether maybe $300 unless you upgrade to roller rockers which would be about double or more.