Help with Restoration Plans

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I'm about to bring home my grandpa's old longhorn that he'd bought new. He died back in 93 and I got it after me grandmother died in 1999. I got mainly cause I was the only one who wanted it. It's been sitting outside from '92 to present. It sat in the garage from new till '92 from what my family has told me. It's all there except the tailgate and wooden bed(rotted out). It will go through a complete frame-off restoration with me doing most the grunt work. I plan to use it as my truck when I finish it. And that’s why I can't decide. I know in original form that it is a great and reliable truck. But if there is an area I want to upgrade I'll completely replace it, Example: Swap the TH400 for a 4L80E to have a better towing and highway capable truck. While keeping the original trans and driveshaft in storage. So here is what I'm thanking.

Idea #1: Restore to original condition with only a K&N filter as the only upgrade.

Idea #2: Leave motor and rear stock. but run a 4L80E and a set of late 90's chevy steal wheels and BFG's.

Idea #3: Run a Fuel Injected 502 and vintage air. along with #2 upgrades.

Idea #4: OK this one is a little wild. Will include #3 uprades. Swap the body on to a CUCV set up. Mainly to have the 4x4 frame and dana 60/ 14bolt and np203, no use for diesel 350. It will be a 5/4 ton 4x4 Longhorn if you can't see where I was going with this for Idea #4. I know the frame will have to be stretched, I would also do cross-over steering with an upgraded 2wd steering box(just to say I did). This way I could put the complete chassis and drivetrain in storage.

Either way I go it will remain white on red interior.

I would like to hear yalls opinions on my build.

Thanks,
Joshua