Opinion
The Ford 4v Iron head is just fine and can go on with a good rebuild, no porting and should produce plenty of power. Closed chamber would be best, open chambers would be good though they are actually more prone to detonation than the closed chamber heads.
Aluminum heads are physically lighter and may combine 2V an 4v features as well as custom chamber dimensions. They will save you a nearly a hundred pounds off of the front end.
As to headers, it is a guess, but I would think that the 351C 4V headers would work, but might need a bit of tweaking to fit perfectly. The different deck height will have them sitting an inch or so higher in all likelyhood.
Buy the painted headers rather than the ceramic coated, that way if you have to bend one a tad or flatten a tube a little, you won't have the finish destroyed. Besides it will save you 250-300 off the price.
Why did you decide on the 400M engine? I have never heard that they were a desirable engine.