Building a Small Block for Economy and Power
 

So I'm looking to find a junk yard small block 360 and rebuild with better components for a project. My plan for the build is a nice grand tourer so I want a decent combo of power and economy so that I can drive this thing for long distances and not cry at the pump. I'm not looking for some huge numbers of either HP or MPG but let's say more than 300 horsepower and more than 20 mpg. So my question is what sort of components to use to achieve these numbers. I know I'll need a good transmission and low rear end ratio but to give you an idea what about things like these:
Heads?
Intake?
Fuel Injection or Carb?
Exhaust?

Welcome. Your 300/20+ numbers will need fuel injection or a veteran carb tuner.

Late 90s truck 360 with a standalone efi, cam, headers, overdrive trans and a 3 somting gears should get you there.

I agree.... On the rearend gear ratio... I'm going with 2.73 and no more than a 3.23... Just my 2 cents.