For a respectable cruiser and low cost: If it were me I'd use the XE262H Comp Cam, headers and a 650 Holley carb; stay with the 3.23 gears and run the Hughes Street Master 2500 (will flash to about 2,500 RPM's) torque converter. I'd have the heads worked over with 2.08/1.74 three angle valve job, or purchase some heads off of a newer engine from say a 1969 to 1971. The XE262H cam is going to give up about 5 to 10 ponies compared to the XE268H cam, but will gain 5 to 10 pounds of torque over the 268. It's a trade off...more torque or horse power. Run a 2 1/4 inch exhaust system with 1 3/4 inch headers. I went with the 262 cam in my 383.

PS, I shift at 5,700 RPM's.