Hey SC, yes, you should see some better performance out of the 326 with a good aluminum intake, and 4bb carb, to help the exhaust system.
Maybe have your Dist. recurved, that may help with the new parts too. Cheap ins. to make sure all is at it's best.
If you ever run across some 326 #141 heads, these are the ticket to some hot performance. They are the 326 H.O. heads. Just something to keep in mind for the future...
I'd go with the TH350, direct replacement (same crossmember, and driveshaft usually) and many of the Buick/Olds/Pontiacs had them and will all have the BOP bolt patern. (I like to stay with parts from a Pontiac, then I know they'll fit)
The TH350 also has a better ratio 1st gear for better launches off the line perfomance for the 326 I feel...