Which has greater HP gain?

Going through the millions of options to add power to my car and looking at this path. I change mind every other week, but the information is still helpful.

Which would have a greater power gain on an otherwise stock 302?
87 5 liter with speed density, flowmaster catback, K&N panel filter.
Car has 3.73's, Pro 5.0 shifter, stock T-5.

Would be converted to mass air if option 1, option 2 only if needed after change.
Either option gets a 255 lph fuel pump and 30# injectors.

Option 1 - Paxton Novi 1000 supercharger, used 70mm MAF.
Option 2 - TFS twisted wedge heads, new intake (cobra, etc), 1.7 rockers.

Both would cost me about the same money (I'd install the blower myself, but pay someone to do the heads).

exhaust, traction, c-clip eliminators, control arms, subframe connectors, etc would be coming later.