Frankie,
I don't know about you but I like to maximize my investment. With that said, I would not go with any exotic 4 cyl. motor. I would not even go for a midget motor. I would go with a small block chevy V8. That motor gives you options for a lot less $$$$$$, plus you don't have to change motor mounts, etc. when you want to step up to run in another engine class.
With a stock 350 you would have a C class motor, half of that would be an F class motor, special crank E class motor, Forged factory crank D class motor, and if you really wanted you could build a B class motor with a stroker crankshaft. So that gives you a choice of a B, C, D, E, and F engine class with one block.
You say you are interested in building a N/A REMR. I don't know if this is current but here are the records - open minimums off of SCTA site, for a N/A REMR at El Mirage which is close for you to run at.
B Minimum 210.000
C Minimum 200.000
D Minimum 190.000
E Minimum 185.000
F Minimum 175.000
Bonneville records,
B North of 49 Racing T. Allen 08/12 248.853
C Hot Rod Hoodlums M. Jones 08/12 256.590
D BMC Special R. Blakely 08/10 243.618
E Hot Rod Hoodlums T. Teske 08/11 228.773
F OPEN 000.000
In my opinion the Bonneville records are pretty fast, so I would concentrate on the El Mirage open minimums. This would also give you time to get the bugs out of your car, and give you an idea of what it will take to go to Bonneville and try and set a record there. Also many people have SB Chevy's and someone might approach you and ask if they could put their motor in your car.
I like options, but that is just me. Whatever engine you pick I am sure you will be successful.
Tom G.