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I don't think the gears will be much of a problem unless you are trying to drive it in the rain. Traction may be a problem but on the track the 3.89's should work good. I use 4.10 in mine and it will cruise at 75 easy with a C-6. A top loader 4 speed would really be sweet if you wanted a manual. Well when you mention the 460 as a boat engine I think of neck snapping acceleration. Have you ever ridden in a V-drive with a 460 in it? They also make good jet boat engines as they make so much power! The big engine is just free power. You could spend a pile of cash on a 393 and I guarantee you that a relatively stock 460 could walk right past it in any kind of power contest be it pulling or drag racing especially in a truck. Too bad I can't take you for a spin in my van. It's a real surprise when you punch in that Holley 4 barrel and 7200 pounds of van heaves its nose in the air and hauls a$$.
I have never timed my truck. But I do drive a 2000 Mustang GT and a 2001 Lightning regularly and I think my old '75 would give the Lightning all it wanted. Launches in the old truck are more difficult. Severely traction limited. When it comes to a passing gear, I think the 460 has the L beat. Mind you, my Lightning has 380 hp and 440 torque. It will run mid to low 13's. I would suspect my old truck to run at least 14's. 0-60 is probably in the 6 second range.
Don't worry about the 460 not snapping your head back. My truck weighs more than three tons and I easily can light up 44" boggers. You asked about years, I'd get a 78 or down, preferably a Dove block, especially if you aren't going with aftermarket heads, these have higher compression and are generally considered premo.
In the future I want to do the whole performance smear cam, carb, headers, heads, etc. But fist the motor will have to be BONE stock, such a basic budget rebuild that it would make most of you guys cry. I don't have the budget to make it a screamer right away. Since I plan on mobs is this "Dove" block still my best option, what can I get one out of, how do I tell that it is one, and most important what will it cost?
Although a 4 bolt main Dove block would be cherry (you'd tell it by the engine #s) it would be easier and cheaper to just buy any '78 and older 460 (these are a dime a dozen anywhere), and start from there. As your budget allows, you can pick up some Dove heads (@100-200 bucks). They can be ported to flow as well as any of the aftermarket heads. You can mod the snot out of the 460s, have fun.
460 is the best way to go. My truck does 0-60 in 1.9 seconds. 1/8 in 6.13@112. It only weighed 3000 lbs, though. I had this same engine in a '74 F-100 LWB in a milder form and it ran great! It weighed 4400 lbs with me in it and would run a hi 8 in the 1/8 mile. Just take a pre-1979 engine, as others have stated, and put a 280 comp cam in it and all the related hardware, headers, a 750 carb, a good 2.5" exhaust, aftermarket double roller timing chain, and some 3.70-4.10 gears and have a blast! Dave
Personally, I would opt for a nice sportsman 351 block, use an Eagle crank and rods along with Ross, CP or JE pistons to create a 390w. compression approx 10:1. Roller cam, roller rockers, AFR 185cc heads (best bang for the buck) or Canfield heads (open ended budget). Edelbrock rpm air gap or single plane torker intake. holley 750cfm mech secondary carb, msd distributor, coil and module. JBA thermal barrier coated headers, griffin alum radiator, boss302 stye drag pack assembly to keep oil cool. Alum water pump, under drive pullies, electric cooling fan and electric fuel pump.
hp and torque? approx 500hp and 500 ft lbs
drivability? depends on cam....a 224/224 110LSA with .533/.533 lift is border line streetable....it already affects vacuum accessories.
reliable? depends on cam and valvetrain maint requirements...
a hyd roller cam with a redline of 5500 max....will be pretty reliable.
it all depends on how you wish to drive it.
the 351 based stroker is lighter than the 460 and easier on fuel....with almost the same power....(what it lacks in power it equalizes with the difference in weight) 460 are hefty