[nxtruck]

That Melling MTC-1 will get you your 250hp and then some, provided you have a set of headers, a 600 cfm Holley or Edelbrock or a Q-jet, and a decent dual-plane intake ( Edelbrock Performer or a cast iron Q-jet will work here). That cam may not be the latest tech, as far as lobe intensity goes, but will be better, as far as longitivity goes, with todays oils. The more aggressive lobe-cams have more of a tendency to wear lobes out quicker with the zinc-less oils of today compared to the old-school lazier lobes like the Melling you have picked out.
Either way, make sure you follow the cam break-in procedures and run a zinc additive of some sort and that cam should last a long time. It will make for a nice driver. Have fun with it!