What I would do:

Stock, The bottom end is really good.

The only gotcha is the balance shaft chain. When people ran these motors with it loose / out of adjustment it would slap. Over time that could cause the pivot to fail.

The fix? A TSB on the pivot bolt for torque and keep the chain tensioned. Do that and your good to go.

If you run balance shaft, the clevite 1805M bearing kit is the best. The large bearing eliminates the parting line.

Compression Ratio: A slight gain helps, but the main thing is to not end up with less than stock. This is a very common issue, most aftermarket pistons are decked.

Crankshaft: Stock is fine, a hardened turbo crank is a bit more forgiving. I have beat the snot out of the stock unhardened unit on NA motors. When I built my last motor I had a NA crank Ion Nitrided, it worked really really well.

Bearings: For a carb motor there are no bad choices. ACL Aluminum or Clevites tri metals have both worked well for me.

Check the blocks deck for cracks around the exhaust bolts.

A factory style aluminum oil pump is a good choice, I never like that aftermarket cast iron pumps.

I like coated piston skirts... All my motos get them. Performance coatings does a good job. web page

I only coat the skirts. I never found any improvement with the coating on the piston tops, but it might give you a ting boost in CR.

A good machine for block prep is a must.

Resize the rod ends and get the crank checked.

That gets you a decent short block to build from. Any piston ring thats not a plain cast iron of a fancy TS gapless will work well. Factory was chrome, and works very well. Moly is a good option but harder to find.