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The last post makes a lot of sense. The aluminum heads are expensive, but an aluminum intake's not too bad. The heads are fairly narrow on an FE as what's normally part of them is, on this engine, part of the intake manifold. So an aluminum intake saves a huge amount of weight, and saves your back when you remove or install it in the truck. Also, a very common upgrade to a 360 is to install a crank and rods from a 390 which turns it into a 390. These should be pretty cheap. I had a 390 crank listed on the local Freebie site and no one wanted it so it got scrapped.
If you do go the 351W route, the GT40 heads are very good.
The Boss 351 Cleveland is not really suited to a truck, it's a high rpm mill suited to a street racer (like a mid size car that stays at 3-6000 rpm). If it truly is a Boss 351, that's a pretty good price, I would think. There's not many of those around. It's kind of ironic that you mentioned earlier that you had heard (correctly) that the 351C is pretty scarce, then find out that one of your coworkers has a rare of the rare ones!
You have a good plan to not rush. Buying from eBay is hit and miss, and the shipping charges could be high.
If it has a 360, I suggest you put the 351 idea on hold and visit the FE forums. A stroker crank, some pot-metal heads and manifolds, headers, a few do-dads here and there and you have an engine that fits, bolts to your trans, hooks to your radiator, and makes the power you are looking for along with more low-end torque (if you use a stroker and get to 410 or better cubes for example). The money needed to convert to a different series engine will go into performance parts instead of engine mounts and radiators etc.
jmo, ymmv, titi, dwyw, iyt.
X2 - there is plenty of info in the FE forum for stroking that 360 into a real stout 390 or higher with a bore job. Like what was said earlier, not having to change bellhousing, mounts, etc. etc. 'course I'm jaded, I like FE's.
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.