Thanks for the advice Tom. This is the exact sort of info I was looking for. I had talked to Larry with Clifford, but I just wanted to see other peoples advice on the matter. Sounds very similar to what he recommended. I enjoyed your dyno video's on your site as well.
The head is where reliable power can be found.
Start with 1.84/ 1.6 valves option 1.94 intakes
Hardened exh seats
New guides
Head cut .030
Roller rockers as a option
Bolt in lumps
Porting
Flat top pistons to help get compression up.
Hone the block with a deck plate!
This work with your other parts mentioned will make that 31 down right lively!
I currently have a similarly built 250 in a 65 Chevelle wagon that gets 20 mpg going 75 mph. You will be lighter.