I was looking at doing the 4.6 and dropping it into the 101 landy.
Whisle the 3.5 is working so good there is no point in doing it.
I figure some thing like 3.5 k cost to renew the worn 4.6 and top hat seleeve, plus the time in lifting the old motor and dropping in the new one doing it correctly with new bits and up rated parts.
Then there is time needed to reset the carbys etc.
If the top hatted block you have can be saved , it will save much money.
Like you I currently have money issuses so it is completely off the radar for along time, specially while that Alvis lump is taking any excess time and the little bit of money.
I would look carefully at camshaft options and a after market timing chain with sprockets as the standard timing chain, camshaft and lifters seem to wear quickly.
Unless you spend big money trying to get the exhaust manifolds thrown away, then you have the right idea in going for a high torque, low rev motor set up.
I have the fuel injectors and manifolds etc still on my 4.6 and some wiring.
You are welcome to it as I will go the carby route.
Driving Ians 101 with the 4.6 I noticed not so much a improvement in overall power, but in off idle and low rev torque, remembering Ian had many issuses to still sort out with his motor.

