You said if it were mine. Here goes.
Bore 0.030"
KB165 pistons
You can float the rods and use the included locks or you can press the pin in the rod without locks. These will be the resulting compression ratios depending on your chamber volume....

55 cc chamber-9.5
58 cc chamber-9.1
62 cc chamber-8.7
64 cc chamber-8.5

If you're going to do it right, you need to know your exact compression ratio before you choose the cam.

I'd juggle deck height and gasket thickness to arrive at a piston to head clearance of 0.035" to 0.040" at TDC. This will give the motor good detonation resistance on pump gas. I'd leave the heads alone except for a good multi-angle valve job with hard seats and some blending right below the seats with a cartridge roll. I'd remove all sharp edges in the chamber and polish it as best I could. I'd talk to a cam grinder when I found out the c.r. and order all the associated parts from the grinder like springs, etc. I'd want the cam's bottom end power to start just off idle. If you want to use a little more cam and still retain all the bottom end, use bleed-down lifters like the High-Intensity from Crane. They will extend the effective "window of operation" of the camshaft by reducing duration and lift at lower r's, thus allowing you to pick the next cam on the list so you can extend the top end a little.

I'd use 1 5/8" headers into 2" pipe, through an "X" right behind the collectors and then onto 2 mufflers of your choice. To please me, they'd be 36" glasspaks with the louver openings turned toward the motor.

I'd resist all temptation to use 3 tiny little air cleaners, no matter how period I wanted to be. I'd adapt a 1-piece oval like Ford used on their 3-2's. The motor is gonna need 100 square inches of filter material to feed air properly.

If there was enough room for it behind the rear carb, I'd use a Davis HEI curved for my application.
http://www.performancedistributors.com/