Yes it can be done with either. Both have their ups and downs.

Generally speaking its going to be easier done with a big block if budget is a big concern. Cubic inches is cubic inches and there is a reason all the guys doing it with small blocks have nearly 100 more cubes than factory. Small block will be a little lighter and usually easier packaged in a duster, but its going to take a few more "exotic" parts to get it done.