Both will work just fine. The 351w will have more bottom end torque, which is what you want. Its not a direct bolt in, but not bad, biggest problem will be headers(might work, but probaly not). Those 289 heads arn't the greatest, and thats probaly where the problem is. The rest seems fine to me. I don't like that unilite, had a few blow up on me and leave me stranded, I hate that.
My sugestion? Get some good heads. Try to get comp up to 9:1. Leave the rest alone. It should run in the 13's with 4.10's, oh, and get that converter too, just not too much, something like 2500ish should really help that low torque motor out. It will get really close to 12's with that stuff.
I ran a 11:1 302 in my Comet for awhile, torquer2, 650DP holley, 2500 stall c4, factory ported heads, 4.62 gears. It ran 13.8's with mufflers at a track that has typicaly 4-5 thousand feet of air.
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93LXcopcarSOLD14.3@96 @ 4500ft 2.02 60ft on street tires.
my 67 ranchero NOT A 390 ANY MORE! 460! 3.70's cast manifolds, comp cams 262H, performer, 750DP 100K out of 79 F250
NEW(oct20/02)14.58@95mph 2.3 60 ft
corrects to:13.86@100
66 merc comet351w, isky roller 600 lift 268/260@.050, vic jr. 700DP, 5000stall, 4.56's c-4, 3400lbs with driver
12.3@110 @ 4000ft 1.69 60 ft
corrects to:11.69@115
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