how would you guys built it?

High 12 second engine for a street car.

360
KB107's
XE268H
Good valve job on heads with bowl blending and a port match (you can do the blending Cheap.)
LD340/RPM/Air Gap
750 DP or VS holley
Headers
Decent distributor/ignition

Should make about 340-350hp and get you into the 12's hooking up. ET is in the chassis/converter