The Wayne head was not chosen for this ($50,000? more?) project because its a great design, but because you can buy one (to adapt or make one from scratch: add $$$$$$$$$$$). Yes, it's an improvement over the existing.
No one would consider using that chamber design today, it was obsolete in 1949.
There's just not enough sales volume to make a modern bolt-on stovebolt head, like superimpose the LS design onto the 261 block.
