347's are intended for drag racing in classes that require a factory block to used, ie, 5.0 Mustangs. They have a reputation for being oil burners as the piston doesn't support the oil rings fully because the pin is so high on the piston. I can't imagine why anyone would want one in a Mustang outside of a dedicated racer in the mentioned classes. A 351 is doable in a Mustang, and an easy swap in a truck.
A 351 has larger journals on the crank and is heavier built all the way around. There is a reason Ford never offered a 5.0 in anything bigger than a light F250. A 5.0 was never meant to do big truck duty.
A 351 core motor is going to be alot cheaper than any stroker kit. Now, if your dead set on a stroker, plan on a 351 swap, but do a 393 on the 351 block. You can build a real truck engine with the torque these make. A mild set of heads and a short duration cam are the ticket to truck engines. I like the sound of a loping idle as much as anyone, but fact is, anything over 272 seat duration is a bad idea on a street truck. You can actually make a truck weaker with to much cam. Unless you are running really steep gears, it never gets into the RPM range that the engine makes it's best power.
I wish I had done more to the engine in my truck before I swapped it in, but it was 50k mile unit that only needed a freshening up. Maybe next go round, if I don't go big block.

 

so my best bet would be to just rebuild the 351, put in a decent cam, some headers, K&N intake, and some other goodies to make a powerful DD? i mean i have the complete motor i might as well do something with it.

 

That's what I would do. The best bang for the buck, and will may even get better fuel mileage as long as you keep the cam small. A port job on the heads and intake will help. It will be alot more reliable truck in the long run.