i have .010 deck with 7cc stock dish pistons, 50.5-51cc chambers, felpro gasket, and .040 over bore, come out to 9.25CR on my 200ci.
your 50cc with dish stock dish pistons will give you 9.3CR if you have .040 over bore. honestly a good ratio
IMO, don't go higher than 9.5CR with the 264 cam, stay with what you got, install your nicer cam in the stock 200 and just run with it. you might need rings but you don't need to go all out. I think you'll still make enough power to be more than happy. IMO, go for the 76+ blocks if possible, less on the deck.
IIWIYS, I would get the 200, alum head on otherwise stock bottom (except ur 264 cam) bolt it up and just run until that bottom goes (remember they're bullet proof). when the trans goes is when I would swap the t5, but not before then. sure you won't have OD on the road, but in town, I'm always in drive, 4th gear, 5th is the OD and I only use that to maintain speed @ 60+, passing I'm still in 4th everywhere else (a rear end change can fix that), remember your 3rd gear is the same as my 4th.
on the other hand, I know your try'n to save a buck here and there, but you're changing to many things already, by the time you're finished the 200 with the t-5, you'll say to your self you could have had a 250 with the t-5. it will be closer in cost than what you think. put the car on blocks, yank the trans, find your t5 and 5.0 bell housing with proper clutch/FW setup, bolt it to your 250 block with alum head running the 264 cam, and roll with that when it's finished. you will have the same amount of down time, and money spent on either project when adding the t5, and you'll have a 25% power boost over the 200. that's my 2 cents worth.
Good luck