I'd go with a TBI engine.
In addition to more power a V-8 conversion will reduce the weight of your rig by about 200#, it's amazing how heavy the F series blocks are.
After a lot of consideration I think I'm going to shelf this project for the now. Way to many other projects that have higher priority. So I think I'll just get the water pump replaced and forget about fixing the oil leaks and adding OBA for the time being.
Why a TBI vs. an EFI?
Just curious!
K