As far as the engine i would probably start with a "fresh" crate 351 motor from FRPP, but could also be a Stroker from DSS or SCAT, mainly a 331 for durability reasons.
For RoadRacing you want a well balanced car, a stroker 302 to 331 is probably what i would select to have less front weight. On RR you don't need monster torque, you want your HP available at mostly high RPMS, so the shorter stroke engine is more up to it.
Suspension and Chassis would need to be strengthened, definately using Linear rate springs with fronts around 700+lbs
Rears stiffness depends more on the setup, using panhard bars require 300+ lbs depeding on panhard manufacturer specs.
You want your chassis to be fully braced with strut tower and full length subframes.
Depending on the category you could end up needing a race cage.
The Cleveland 351 i would rule out, parts are more expensive than for the 351W and you wont gain much.
As far as cooling, you need a 3 Core, Steeda and Fluidyne offer nice units. The fan has to be reliable, but here i am clueless, i have seen more aftermarket fans fail than stock units.
The stock steering pump will work fine, but would advice on using a cooler to keep the fluid at a reasonable temperature. The same applies to engine oil, get a good oil cooler and remote mount your oil filter for ease of access.
Konis..are the best, get double adjustables. Lifetime warranty on them.
Coilovers...well, depends, suspension should be all tuned correctly so you need to select all your components from the same manufacturer, either Griggs or Maximum Motorsports (probably the favorite among AFM users).
The choice of parts will depend on how deep is your wallet and also how fast you want to go.
How to get involved: The best way is to get to know the locals and ask them. Just be carefull with the Chevy guys, they will want to make you switch to a GM
