Have you ever done AX?
Most clubs have a "run what u brung" class to get you hooked...
I wouldn't make any plans to spend seriosu $$ until you have clear goals.
Add a quart of oil over normal.
Stick a pair of woven pot scrubbers in the breather chimney as air/oil separators.
A good PCV system will not include the factory PCV valve, there are MUCH better setups.
If new to ACVWs, please Google for "ZDDP and flat tappet lifters", many LONG articles on the issue, most modern oils will sooner or later kill your engine. (on a new cam, frequently before you get it fully warmed up the first run)
There are commonly available oils that ARE fine, but grabbing a random on-sale deal may not end well.
I run Rotella-T6 synthetic 5W-40 and Mobil1 filters.
Brad Penn 1 would be f1rst choice if you have a local retailer.
Valvoline VR-1 is also a reasonable choice, and available in a variety of grades.
Mobil1 "Turbo-Diesel Truck" (AKA Delvac-1) is also great oil.
---NOT "truck and SUV"--- totally different stuff with a ~similar sounding name.
Notice Castrol GTX is not mentioned anywhere above.
It was reformulated years ago and is not suitable for flat tappet equipped engines per Castrol.
Megasquirt has a lot of support on this board.(including its own forum)
I ran MS2-extra for the last ~2 years and just upgraded to MS3/MS3X, and soon adding a IOX.
I run the trigger wheels the Factory gave us
6/1 sequential off a modified distributor, and the 6 holes in the back of the flywheel
(dust escape routes, line up with the pressure plate bolts, next time I'll drill 5 more holes and go 12-1, there's a hole in the case for the sensor already)
If you will be having a local shop install/tune, and not be hands on DIY, you should consult with your installer/tuner before deciding on anything.