1986 Ski Nautique 2oo1 351w rebuild

My oil light has been coming on. I changed the oil pressure sender and the sensor. Still comes on. Did an oil change. There is silver colour in the oil. I guess it's time for a rebuild.

I do know the previous owner put a standard starter on it, so it had been cranked over and over backwards with no oil pressure. Maybe that's what lead to it starting to wear out. only has about 600 hrs on it.

I looked around the forum a bit. Looks like roller cams are an expensive option as it's not mass manufactured?

Can anyone give me a list of suggested things to do while I rebuild? Something like this:

30 thousandths oversized pistons?
rebore the cylinders
grind the crank, get oversize bearings.
New timing gear
New oil pump
Port the heads.
etc.

Is there a rebuild kit with all the parts I need?

I wouldn't mind a few extra horsepower, but only if it's fairly inexpensive and doesn't compromise reliability.

Should I do anything to the velvet drive transmission while I have the engine out? Seems like it's loosing oil. Maybe just replace the oil cooler?