350 v 454. What's the best option for my situation?

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I love my big block. With that said, Tiger Joe is spot on. If you want it, that's great. Does the engine come with all the bracketry? Water pump? Flywheel? Not trying to dissuade you at this point, but those are some of the things you forget about looking at the up front costs for the engine. Headers alone for mine were over $450. If there is nothing wrong with the 350 now, then take your time with the big block. Build it at a slower pace, and how you actually want to. It is already out of the truck. might as well do all the machine work and rebuild it.

Another option - do you have a pick and pull or equivalent junk yard near you? At ours, you can get a complete engine from carb to oil pan for about $350, including brackets. Even cheaper on a half off event. You may want to pop in and look for a big block there.