If the budget is tight, I would go for a summit cam/lifter kit. What rear end gear ratios do you have? Any info on that torq converter? "mild" doesn't really mean much. If you want a summit cam, you'll want the smaller one. I hear the bigger one is lacking in torq under 2500rpm on a low compression era 440.
If you want to spend a little more and get a bit better cam, I would go with the Lunati Voodoo 60301LK. It's $180 versus $110 for the summit cam, but the lunati would be a much better cam. Specs are pretty much perfect for a mild street truck. Has just enough duration to give you a little bit of an idle, but also give you great mid-range and low end power without killing top end power either. Specs are here:
http://www.lunaticams.com/Product.aspx?id=2335&gid=297If the engine ran well before, I would just leave the stock bearings in place and put in a high volume oil pump. Unless you have some concrete reason you believe they need changing, I am sure they are fine.
IMO you'd be better off keeping the stock bearings and spending that extra money on the voodoo cam than spending your money on bearings and then having to cheap out and getting the summit cam.
