if you looking for a budget build, why not find a craigslist 400 and clean it up.
after spending a week with my engine builder going thru differnt possible builds, we established that i could get 400+hp from better pistons/cams and intake on my block. for about 2,150 in parts and 500 in labor.. i got my engine (which is 100% usable day one with 50k miles on it, for $400..) no better budget build than that imo for for a smidge over 3k i'm pounding the pavement with a beastly well street manored motor.
the best part is once i decide to really get into her, i can bore her out to 406 and/or make her into a 434 stroker!!!!!
everyone has their opinions whether new or used but right now i have 2,100 into a my car (car+motor) and it looks better, has more power and will run more reliably than 90% of the little sh*t i see around here.
to me, 100% my opinion, if you can "freshen up" a 30yr old car, then any parts or components can be freshened up as well. when i buy a new block, or new car.. it will be in something for show, and cruises at the lake, OR a track car not for something a i will beat up on a daily basis. no point in loosing your *ss in resale values