Here are the parts I have, what's the best approach?

Keep SBP. Easiest and the drums are available new, just need the backers. Your not gonna like that rear ratio. Is your 7.25 a SG? They are not that bad in a street car with a higher rear end ratio. Youd be suprised how a 7.25 SG handles a larger ratio rear (ie 3.55) under a light A. The 7.25 peg legs were underbuilt for a small block with a 4sp.

Good points and good info, I doubt very seriously if it's a SG, don't know what ratio either, I was just told it was a grenade waiting to blow the first time i "got on it", if I add gears and a SG to the 7 1/4, wouldn't that money be better spent on building the 8 3/4?
It's stock 360 as far as I know, Eddy performer intake and Eddy 750 carb, factory exhaust, but it does have new dual exhaust. just a cruise around car.