The 77 should have the better head and Duraspark ignition. Other than that they are identical. As for turbos, the optimal would be like a T04/T4 "S3" trim with about a .70 A/R. I think that a Holden HX40 off a Cummins would be a good starting point as well. A GT40RS would be great, except they cost a couple grand each.
It all depends how much you want to spend. Same with pistons. Hypers or forged is the way to go, but pricey.
Swap to a direct-mount 2bbl for carburetion such as the 350 or 500 Holley.
There's an ongoing debate about head gaskets. Look at the thread "O-Ringed 250 Block".