Dear Mr. Lee;
Yes; this is a lot of work and not very 'cost efective.'
I would look for a 261" engine, build the "Cadilac 6" or just overhaul & put it in stock. This will add a great deal to the overall value of the vehicle w/o any conversions.
A conversion to the later models (1963 +) doesn't do that unless a lot of time/money are invested. If you go 'that route' then you want a 292" engine, which makes the most power for the $.
Good luck, John M.....