First question you have to ask yourself: will this be a daily driver, weekend cruiser, or all out performance attempt? Once you have that answered it will help with "what" you want to do.
Power is typcially found in the 3 Cs: Carb, Compression and Cam. Depending on what type of car you want will determine what type of Cam, Carb and Compression you select.
The other thing I would recommend is that the lower end/short block be built for durability and the top end/head is where you will find the most horsepower. If the engine is being rebuilt go with good quality pistons, rings, connecting rods, bearings, and most importantly machine work in the short block. Stay away from the HiPo pistons, rods, etc. Spend money to add a larger carb, a cam with more duration/lift and finally mill the head to raise the compression ratio to the low 9.something to 1 range.
There are other areas too. As Dave pointed out, get the timing advanced as much as possible, but stay out of spark knock. With the bigger cam and carb you'll need to have a larger dia. exhaust system. And most of us here add headers. And lastly, find out what the rear end gear ratio is, changing it to a higher number will have a positive impact on the performance, but cost you at the gas pump.
Have fun!