I had the same nostalgia thought about the 360 in my dad's old truck.
Then I realized he would have thought I was an idiot for spending more money for a lesser engine. I helped him build the engine before he passed away, but it was a basic rering as that was all that money allowed for at the time. We both knew that old 360 was still just a gutless smog motor. It is worth it for just the updated serpentine system and parts availability for the newer accessories. An obd1 change over using oem computer and wiring is not difficult, and you will find yourself wanting to drive it more with the modern touches.