Recut seats on iron heads never work well because the induction hardened area is removed. You should have the "F" head rebuild instead of the "E" so you can take advantage of the compression, especially since you need new inserts anyway. You can only fly-cut the head or block a maximum of 0.010" combined so using the "F" head is a must. Have the valves "back-cut."
I don't remember off hand but I think you can have the engine balanced but not "lightened" for SCCA SP. Of course there were several forging runs for rods so searching about can yield rods that are up to 50g lighter (really!) to provide a nice starting point for the balancing.
For racing spending the extra $$ for a top-notch balancing job is worth it. You can do most of it at home to save a little of the time it takes the "pro."
Use total seal rings!!!!!
No matter the condition of the "wear items" replace them all. No sense having a marginal bearing or seal go poof. Uprated oil pressure spring is not necessary and only adds stress and load to the system.
Have the crank mains and throws micro-polished and if it needs to be ground demand generous filets.
Polishing the pison crowns and head/manifold is not allowed but you should port-match and shape/polish the 1" into either that you are allowed and grind off any major casting imperfections (within the limits of the SP rules) this was done at the factory so a little activity here would be hard for anyone to argue.
Absolutely have the pan baffled to prevent oil starvation in corners!!!!!
Replace radiator fan with an electric one.
Use 2.25 or 2.50 inch exhaust and one "bullet" muffler. Use the "tri-y" exhaust manifold unless the courses you run tend toward the open and long variety then you may get good results from the long branch 4-1 unit.
You are allowed to use a lightened or aluminum flywheel... Do it!
Overboring only 0.0472" is allowed (strange amount, eh?) so you have a lot of latitude for taking up wear here.
Have new cam bearings installed by the shop.
Clean, clean, clean. Give the parts to the shop as clean as you can and have them clean them. When you get them back, clean them again. Remove the expansion plugs and gallery plugs yourself before sending to shop. Let them replace the expansion plugs if they want to.
Knock off all casting flash and imperfections and filet all corners you can to prevent stress risers and unwanted delays in oil getting to the sump. Ditto for the water passages.
Paint the inside of the engine. Drag racers have been doing this for years and Summit sells a product especially for the job.
Lifters, pushrods, rockers can all be balanced to reduce stress and harmonic vibrations. Lots of rough spots on the castings/forgings to work with.
Count on needing to source a longer bolt for the rocker shaft #3 hole. It has the threads starting farther down due to the oil feed and is known to strip or fail.
Use Dino-oil for break-in and synthetic for later. It should gain you a 1/2 hp at least and offers better start-up characteristics so you can shut the engine down between runs without worrying about cranking it up dry.


Enjoy!