One more opinion! On my 53 Merc. I bored 30 over, with the stock 4" crank, new chevy valves, and new guides. Used adjustable lifters from Red's Headers. Norfleet cams (been grinding cams for eons with great results) in Dallas. Ground the cam to an old grind from Clay Smith, "Dirt track cheater grind"; No lope, great pickup and power, and we ran it all over the country for 5 years. Block deck was cleaned up just a touch for a nice flat surface. Stock Merc heads and headers from Red's . All she needed was another carb or a bigger one.
I've got another Merc motor that's gonna get the exact same deal for a 30 coupe!