Trent250

It will leak - they all do.  look for excess breather can deposits or oil in the water.
 
ok well if you are only going to stay around 5000 - leave the dizzy in.  If you want to see what crank trigger is - have a look in the for sale section - glen's engine has it - think Slydog started the post. 
 
basically a crank trigger is a set of 3 magnets that pass by a trigger to give a better signal to the MSD as to the engine's position.  '
 
The problem with either dizzy (TFI or EST) at consistent high rpm is that spark scatter occurs due to the dizzy being driven off the cam shaft via the dizzy gear.  this creates issues at high rpm which leads to inaccurate timing.  With a crank trigger system the MSD gets its signal from the crank and therefore it is much more accurate at rpm because it is not influenced by the harmonics. 
 
It makes HP in those applications because of the more consistent timing.  Been proven more than once now.  For your application - probably overkill.

Nice engine by the sounds mate. The 6al2 will work great for you, and you could look at a blaster HVC2 coil part# 8253. That's the setup I will be using on my solid roller cam crossflow. Speaking of cam you didn't mention anything about the cam in your post but guessing it is a hydraulic as you havent changed to rollers yet. Will need some cam specs and intended use for the car to help with carb selection.

Sorry, but half of these comments are not helpful. 78xcgxl, everyone is well aware that you would put in a 4L. You say it in every crossflow rebuild thread and it is annoying. If you don't like crossflows, don't read about them.
 
I'd prefer to rebuild a crossflow than install a 4L, but that was not the question.
 
No reason not to use a 4brl with a hyd. cam (sorry Sly), perhaps not a 650dp though. An engine with that cam will not see more than 5,500rpm and a 465 will be enough. A 500 2brl. will start to limit the engine after 4,500 and won't be as friendly as the 4brl below 2,500rpm. Cost difference isn't great as you wouldn't use a stock mani and carb.
 
What are you going to do with the car and what rev range do you intend to use mate?
 
You don't need 200 rods with that sized cam and pistons to suit are $$$ and hard to get.

I have a suggestion for old mate - Have a look at what Clevo 120Y has achieved with WOMBAT's speedway car.  Now there is a combo that is punching way above its weight with mostly stock components.  WHY - because it is a well researched package using mostly stock components. 
 
Another option is find a low K x-flow (I have two, one with 115 and one with 190K's so they are around) and stick a hydraulic cam in it with a set of roller rockers, new lifters, timing chain.  gumtree sourced extractors and inlet manifold and go and have some fun. 
 
The strength of these engines is the torque they develop.  Torque is king on the street so a short rod, stock crank combo kept to below 5000 will last forever, win heaps and will fall within the budget. 

Then I would suggest a 4.0l as well.My FG XR6 couldnt catch Glenns XE with a stock eb-ed ohc driveline.
 
Ignition,good pipes,mods or complete diff eat half of that and are needed for that combo imo.