I did the world's cheapest ass build on my 4.6 - no machining! Just had the exhaust valves cleaned up by my buddy at the machine shop. Added cams, springs, a 3v timing set, boss rods, STOCK PISTONS, oil pump, bearings, rings, a new clutch, rebuilt my TR3650!
$5500 up here in Canada so could be done for about $3000 USD.
I keep thinking I would eventually overbore the 3V, get the heads actually rebuilt, possibly get a forged crank, etc... but the smart money is...
Buying a 2015+ F150 5.0, swapping a few parts over, selling all of my 3V stuff (for pennies on the dollar, ie: roush manifold, TVS 1.9, complete engine, cams,), using stock 5.0 Mustang headers and h pipe, getting a DOB manifold and an old rotten GT500 blower, and finishing up that way. All of the extraneous supercharging stuff I would already have in place - lines, pump, exchanger, fuel system, etc...
So I flip back and forth between ideas. I hope my current build gets me a few years.