250 VS 292 always opens a huge and controversial can of worms. It comes down to what you want the engine to do. If you're looking for a serious truck engine a mildly built 292 is tough to beat. On the other hand the 250 has a much shorter stroke and much lighter rotating assembly, and so it will wind higher quicker. That's important because the best way to make horsepower with a small displacement engine is wind the crap out of it. Then again if you want to spend some money at the machine shop you can lighten and balance the 292 crank. That makes it better for winding up and if it's done right it will allow you to get rid of the 9200 pound harmonic balancer making it even better for winding up. Sometimes I think the worst thing that happens to us on these deals is the paralysis of analysis. There are lots of options, and you're not deciding between good and bad, you're deciding what great idea you like best. Mainly, it's your truck and your gonna drive it. Figure out what YOU want it to do, and build it accordingly.
Boo