Your first priority should be getting reliable. If you need a fresh motor, then get one. Check Summit Racing for prices as they are hard to beat. My personal opinion is I would NEVER buy a motor from an individual...ever. You just don't know the quality of the build. Buy a GM crate motor or one from a local builder that has a good reputation.
Once you get it running good, if you have anything left over go with a static drop. As time and money allows, consider adding bags. Use spindles up front as they can be reused if you bag.
Priorities first, fun stuff second...
