Powertrain thoughts for my project?

[TwoFiftyShifter]

So I'm doing a bit of an overhaul on my '64 this winter so I can bring it out in the spring with some pep. I don't have a whole lot of money to use, call it less than a grand on the motor and tranny, I don't want it to be real fast, I just kind of want it to be fun.

The truck is a shortbed 230 I6, 3 on the tree, 3.73 posi rear. I don't think I can shell out cash to upgrade both motor and tranny, so I may have to keep one. We have a '57 pickup with a 235 3 on the tree with a 3.90 rear, and to be honest I dont want two of those combos. The 3 speed is ok in town but that beat old 235 is revving alot at 55. So I have a few different options.

Option 1 is to retain the 3 speed and build up the six. I have an offy intake and an HEI already (thanks aerotruk!) and have read up ALOT on this, and I just ordered Leo Santuccis book. I figure the intake and a 390cfm, some sort of mild cam, maybe a cheapo summit split header and the hei unit. I wont spend a whole ton on the motor that way. But I still will be revved out like nuts at 60ish and may only have 20 more hp. The cool factor of the six makes this option 1.

Option 2 is to go easy on building the 6, make it run right and do the T5 swap. Also going to cost a little. BUT, it will be way more enjoyable to drive. The swap doesn't look bad, S10 tranny or camaro with s10 tail, different clutch setup, some modifications to the bellhousing, and a shorter driveshaft. I think that covers that.

Option 3 is to leave the 3 speed and put a V8 in it. I have a 1971 400 in the garage that runs great, and wouls have a bit more balls then the 230 even stock. I'd probably need a beefier radiator, and a stronger clutch for sure, but The swap itself doesnt seem bad, and I'd have some getup and go, and the ability to crack 70mph if i wanted . The 3 speed would barely take it, but i have a spare so I would be ok.

Ideally I'd go build the 400 up and put an M22 muncie in there, but the budget doesnt allow. I've been really up in the air about this truck, it wont be a show vehicle, not even close, it will be a weekend crusier/DD/wow it still has primer on it kind of thing. So, anyone have an opinion on what I should do? Any input is appreciated.