I have built a couple of small block Fords and have been very happy with them. The only real performance problem these engines have is that the stock heads are very restrictive and they don't breathe well. If you go with aftermarket heads, I think you will be pleased. I have used both World Products Windsor Senior and Windsor Junior cast iron heads on the two engines I have built. They are cheaper than aluminum heads if weight is not an issue. For a mild engine, I would recommend the Juniors (1.94 intake/ 1.60 exhaust valves). There are a lot of aftermarket heads available for these engines. I think you will find that buying new heads is no more expensive than rebuilding the old heads.

The really neat thing about putting a Ford in a hot rod is that it's not a SBC.