Need some opinions
IMO, get it running and driving first and foremost without a doubt. That engine should be able to get some good mileage and make a really nice driver.
If YOU WANT to hot rod it, the slate is wide open. For a quick and easy hot rod, find a 5.9 Magnum and couple it to a OD transmission (A-500-a 904 with an overdrive on it.)
Swap on headers, 2-1/2 exhaust, RPM intake and a 750 carb, a vacuum advance distributor. Worry about the cam later. Upgrade the rear end to a 8-3/4, have the driveshaft cut to fit. I’d use 3.55 gears and a tire no larger than 28 inches in diameter. (275/60/15)
You’ll need to find an engine swap kit (motor mounts) and a larger radiator.
This set up is a tad over 300 hp.