I have been a daily reader of this forum for 6 years. I rarely post as im stuck in neutral so to speak and have little real input. I love following the the technical threads.

History and background
I have owned my 1972 340 Demon since my senior year in high school that was 1979.
In the early eighties I played around in the street racing stuff and did a little bracket racing at OCIR.
Then I went back to college got married had kids blah blah. The car was stored in my garage for about 13 years.
I did some basics to get it going again, fuel system hoses, carb rebuilt, Complete brake system overhaul, cooling system, oil, trans oil, plugs, wires, cap
Car fired up ran great and drove it as a toy on weekends for a few more years up to around 2006.
The car has been sitting for the last 8 years. Kids in college and other expenses.

The current setup all mid eighties components except the carb
340 0.030 (original block) #matching
10.5:1 speed pro forged
2.02 J heads port matched pockets cleaned up (original heads with 2.02s added)
Ductile iron adj rocker arms
Comp cams 244@ 50 .510 hyd cam
LD 340 with Carb Shop 3310
B&M LBA rev pattern valve body, not original trans
3400 convertor flashes around 3800
4:10 8-3/4 cone posi
Ran high 12s @ 108 back in the 80s, I always had traction problems with my street tires at OCIR never had slicks, car has stock suspension with no mods

My dream has always been to have a ten second car. This car purely a toy only. I dont plan on ever selling it.
Goal 10.50 somewhat streetable to be able to drive 13 miles to Fontana or 20 miles to Irwindale. Drive around the local area on weekends.

I will be on a tight budget and have to be patient and accumulate parts over time to finish.

The suspension will need to be upgraded no matter what. I will have to go with all the required safety equipment for a 10-11 sec car also

I also feel like i should keep the original engine and go with the two options below.

Option 1) Find a 360 block get fully machined go with 4" rotating assembly ported eddies or used 360-2 heads. Roller or flat tappet. Single plane with bigger carb. Go thru trans have a new convertor built.

Option 2) Find a complete 400 engine/trans cheap. Have block fully machined. Go with a 4.25 stroke assembly, aftermarket alum heads. Indy dual plane. Rebuild trans, new convertor

I know I left a lot of the details out but trying to shorten it.

In the long run what will be cheaper and easier to do ?

Add any thing I left out. No feeling will be hurt on my end.

Final note
My hooker headers are smashed so either option will require headers current trans leaks everywhere from sitting.
Yes I know my 8-3/4 is probably a time bomb.

Thanks Jeff