F150online Forums - 1998-1999 SC flairside project

I am about to start my dream truck project and i need feedback from as many members as i can. I am planning on buying a used 1998-1999 supercab flairside 2wd f150. i am planning on replacing the engine and transmission. I have decided to go with a JET transmission but i do not know which engine to get. with all the issues like spark plugs and head gasket on the 4.6 and 5.4, i really do not know. This truck will not be supercharged right away, but i need a strong engine. Also, this truck will be a daily driver for a year or two, so i have to keep it street legal. The question is, which combination engine/head should i use? I will spend up to $3200.00 on the engine. Attached is a list of things i will do to this truck:

20" lightning rims
Airforce one intake
superchip
Gibson Supertruck cat back
gibson S/S headers
2.5 piping
limited slip
lightning body kit
lowered front 2" back 4"
leather interior
and any other mod i can afford to. i will start this project once i find a truck with a blown engine or transmission for a resonable deal. any feedback will be greatly appreciated.