Hummm..., I wonder how long those dirt track cam/lifters last with the stated ramps? Sounds like a need for roller lifters there. My old school '85 Corvette engine in my Studebaker has a 114 LC. I have a DOHC in my Mazda Protege. Advanced the intake 3 degrees and tricked the ignition timing 4 degrees (advanced) and I can feel a small difference where it counts.
Anyway, sorry to sidetrack, back to the car/engine at hand. As I stated earlier, I'd install the engine and just see what you have "AS/IS." That way you are evaluating instead of "guestimating." As to gear ratios remember (because I PREACH it all the time) the tires AND the gear ratio work hand in hand. As the tire diameter goes up or down it is exactly like changing the gear ratio. So, to state 14" tires isn't enough. The specific tire size (and then its diameter) is needed. Once you know this engines advantages and shortcomings you will be able to "guess" better at what ratio/tire size would be beneficial. The 3.40 is a decent start point. With a T-5 and 175-70-13 tires I'm at 2,600 RPM at legal freeway speeds. And, the 4.01 first gear is likely an advantage given the suspected torque curve of your engine. Once you have all the figures use a calculator (they are all over the internet) and see what is a livable daily driver freeway RPM and what this engine allows (or need to be modified towards) for decent acceleration. From my experience if you had 3.73 gears you probably could eliminate using 1st gear (predicated on the 175-70-13 tire I'm running).
Like I said earlier it is all a system that needs to be optimized. You will just need to cheat it to where it benefits you the most, or come to the conclusion that the engine needs to be tamed downward to be practical on the street.