Smog delete/air flow overhaul in a '77 Wagon questions

I just got my hands on a sweet 77 Caprice Wagon! I'm trying to get a parts list together to tidy things up a bit. Looking for any and all advice I can get.

Here is what I know: The cold air intake is rotted out, oil is leaking from the passenger valve cover, the exhaust pipe from the cat to the muffler is rusted bad, and, to my surprise, the car has plenty of power for me.

Before I got the car my plan was to do a big cam and head swap to get some power, but I just can't believe how this big ole car can move as is! So now my plan is to just take care of the simpler swaps on the top and bottom of the engine. What I have in mind is to remove the smog pump and everything it is attached to and put these parts in:

Air cleaner and Edelbrock 1406 Carb
New valve covers
Flowtech Headers
Flowmaster scavenger Y pipe
Flowmaster series 40 muffler

Am I on the right track? Those parts make sense? Should those headers fit? It seems like a set of full size headers sure would sit low under the car. My plan is to just keep things single and have a local exhaust shop fab up all the connections. Thanks in advance for any input.

Pics of new ride:

Nice find indeed! Is that 305 or 350 or something else?

Factory 350!

Oh now wonder you say it feels snappy even a factory 350 is decent. I have Edelbrock Induction (Performer Manifold and 1405 Carb)

It works good on my 79' 305 with stock pipes ,it work great I bet on your 350 with some headers.