I have a '76 Power Wagon I'm trying to bring back to shape in order to turn it into a winter truck / tow my 18' boat or a car on a trailer when I need to. It's a 4x4 truck, kingpin D60 front and D60 rear on stock truck tires now but going to be on 34x12.5s soon.

My goal is mostly torque and something that's not going to eat a hole in my wallet with gas, although with no OD and 4.11 gears I'm already kind of shooting myself in the foot here.

Currently it has a big 440 sitting in it with a large (no idea the specs) cam and a holley 700 DP on top. Other than that I believe it's mostly stock. If it matters I can try to pull away the grime and find what casting the heads are at some point. Sucks gas like crazy but will roast the tires whenever I want...lol.

To the point: I like the idea of keeping the 440, but I think in the long run would it be better if I just put a small block in it and call it a day? Plus, I could keep the 440 for something more worthy of the power (charger?.. drop it into my dakota r/t?... who knows hahah).

I can get my hands on a 360 magnum for basically nothing, throw an eddy carb intake and an LA dizzy on it and a small cam and call it a day.

Which would work better?