For a 360 project

I went both routes. Create short block and rebuilt a 360. The create hi-comp ratio had a small problem. (Sarcasim) the drivers side of the block was deck to much and had positive pistons while the passenger side did not.

I did a KB-107 @ .030 that ended up being zero deck without machining. You should only overbore if you have to. Thicker wall are stronger wall which equals straighter cylinder wall. That means more HP and longer life.

When you do your head, the 3 angle valve job should be done if you need new valves. Otherwise, do not do work thats not needed. It'll not only save you some bucks, but it will get you up and running faster. The amount of power gained is small. Worth it? Yes. But it's not a big thing. When you get to the point of porting your heads for more power, then go the full route and go all the way.

dgc333 gives good advice.