Which would be smarter

i am currently building a dart and looking to spend money wisely. So I am shopping for drivetrain components. I want a car with good drivability and good pickup also.
Option 1. Spend money on built 360 with my 904 and tall gear for drivability or.
Option 2. Spend money on OD trans conversion less expensive rebuilt 360 with 3.55 or 3.73 gear.
Will the better rear gear make up for a lower hp motor. Or should I stick with a high hp motor and 3 speed auto, with a 2.76 rear.
Thanks for the info.