Either option is a good choice. I went old school with a 350 and am very happy with with every part of it, although fuel injection would be nice for easier start ups.
If I were to do it again, I would go with a newer fuel injected engine just because i would like the experience.
In the end you can have great results from either option;
So IMO, it should be the build you would find more interesting and fun. You'll be happy with the results either way I am sure.