How about the TH400? I found one attached to a D300. They're said to be stock and good condition. Price is right and they seem to be upgradable if I get to that point down the road. This is dangerous, I'm getting excited...
What @boots4 said. If the 400 and dana 300 are inexpensive, I say jump on it. Plan to spend around $1500 to build up the 300 (It's only about $200 to rebuild the th400). If you have any plans of a doubler in the future, just know that you'd have liked the extra space a th350 would offer.The TH400 is the stronger transmission and can be built to deal with serious power. If it's a stock 350 vs a stock 400 the 400 is stronger.
For any auto an additional cooler is smart insurance.
Not sure if it's in your budget mindset, but you could do a blackbox-i to the 300 with HD outputs for about the same cost of doing 4:1 gears. You'd have more gearing choices, and it only adds around 5" to the total drivetrain length.