That sounds like a good plan for a fun, reliable, peppy, daily driver. Some here can not let go of their inner racer. They will be here soon to complicate things. Please don't mention a 194 head.
That's why I said open chamber for the cylinder head. That's the recommendation I keep seeing to avoid valve shrouding, better to start open and mil the head.
I forgot to put my pictures up, here's my before when I bought it:
And after I degreased and did some painting:
