hcompton, my brain hurts after some of things you post. It's like automotive advice from Charles Manson: Hard to pick through whats there to find something that sounds logical. Anywho, it's a freaking 98 s-10. It's definitely not shaped like a brick and although 120mph probably hard for a 59 rambler to do - or maybe one of those 80's diesel Escorts - as long as nothing is limiting the computer to tell it to not pass a certain speed, it'll do 120mph.
Now I don't like shooting from the hip, so that's why I suggested that you wait till DoubleVision chimes in. Since you seem to need your answers now, I'll give them to you: Chances are your friends will probably have a faster car than you unless they drive a Buick Century or a base-model Civic. I think every V6 Camry made in the last 10 years could lay waste to most 4.3L-powered vehicles, with exception to the Syclone/Typhoon twins.
Let's not even mention that top speed is not going to win you any races that aren't on the autobahn or salt flats. If you want to be faster than your friends, buy an Ls1 F-body or something. Unless you really want to be different, I wouldn't waste my time with a 350 that had two cylinders chopped off.
...And I happen to like both 4.3L's and S-10s. But there's your answer. Like it or lump it.