The 232 is in a 1966 Rambler Classic 2 Door Hardtop. The car and the engine both only have 60k miles on them, so they both are in amazing shape. I dont want to do any "major" changes to the car or engine since it is in all original condition, and I think the 4.0 conversion would be a good way to get some HP out of it, while not modifying it too much. I also picked up a 2BBL intake (off a 80's 258) to bolt a MC2100 onto it, and the TFI ignition system upgrade (it's all on the way, in the mail). If those two upgrades dont give me the extra power I'm hoping for, then the 4.0 conversion is going to be next (and exhaust to go with it).
Thanks for the links to those other sites. It looks like it has been done, and I look forward to doing it myself.