Summit has pretty much the same prices.
Unless the engine has relatively few miles on it I'd recommend picking up the cam kit with lifters and possibly new springs as well. It's more money, but more reliable. I'd also consider a different cam - try Hughes (
www.hughesengines.com). I'm tossing around the idea of picking up a 1019 or 1523.
The headers I'd recommend either getting a nice stainless set, or getting ceramic coated (ones I got) or Jet-Hot coated. They cost more but the payoff is in not having to replace them every couple of years.
Hughes is a good spot to look for info on heads too. I don't know how common 4bbl 318 heads are, you might be better off getting yours ported and cleaned up with a valve job.
Ok now the lift... For the rear you could go find the OEM blocks off a 3/4 ton 4x4 - they're about 3". Pick up the blocks and an overload spring or two would get you a bout 4" total. Just make sure your pinion angles are correct to prevent vibration, and get new U bolts. I've never looked at the front suspension of an older 2wd so I can't help at all there.
As far as the rear diff goes - yeah, you need gears. Power Traxx makes cheap lockers that drop in, but my buddy has broken 3 of them with his 318 and 31" tires. If you're not doing any heavy towing I'd recommend getting a Detroit Locker and doing it right. If you never drive it on the street you can try welding up the spiders or getting a spool, but it makes it harder to steer and maintain traction. If I get anything it'll be an Auburn limited slip with the heaviest clutch pack available.
Now, ring and pinion ratio - it all depends on what size tire you'll run. I've got 35x12.50 on mine and I'm running 4.11s. At freeway cruising speeds I'm usually running 3200rpm and on my last 290 mile tank I got over 11mpg (good). If you're going to run a 33" tire I'd suggest getting a 3.92 or at the very lowest 3.73. There is no overdrive on that a727, so you're either going to have to accept a higher cruise RPM and lower fuel economy, or slower accelleration, better fuel economy on long drives, and lower NVH from reduced rpms. Personally I'd pick power and just cruise at a little bit slower speed.
The wiring thing - any junkyards around you could strip the harness out of? IIRC the Orange ECM comes with a new plug and directions on how to hook it up