Now this sounds like a fun project.

Like Walt said most will suggest the 250 or the 292. The Jeep thing would be cool and probably has good roots in the off road world. The Jeep FI would be easier if you buy that running 4.0 FI and use the parts.

OK, I like to be different too. How many rock crawlers do you see with a Chevy I6? Humm?

The 292 would be my choice for torque, although my 235 when it had granny low, would spin the tires on concrete when pulling a tree stump while idling. This suggests any Chevy I6 with low gears.

As far as hi revs, I have seen a 292 dragster do 9.7 in the quarter mile at Sacramento Raceway on a bad run, it had to be turning some revs.

I would use TBI because it is way simpler than MPI and will be just fine unless you are looking for max power.

The Clifford 4BBL manifold may flow better the the Offy, Ive used both.
TBI, Holley.
Roller rockers, not nessesary.
I would use light weight tube headers, probably make them myself.
I would get at least a 272 grind, it's not a street vehicle.
I would add MSD ignition for low end torque.

Just my 10 cents

Luis