I'd check cam timing first.
Edelbrock claims the Performer cam is 272 advertised intake, 282 exhaust, 110 LSA on
115 intake centerline. However, that HAS to be a misprint, because it doesn't make sense with the .050 timing. Those events events put it at 105 intake centerline, which is logical for that cam
http://ecx.images-amazon.com/images/I/61g4h3-fjnS.pdfSo you could cam up, but in a big truck like that, you will lose low end and have all the expense of a new cam.
Assuming it is at 105 ICL like the numbers equate, a 10.7:1 390 is at 8.68 DCR at least, which with tall tires, probably poor quench, would ping or require so little timing that it'd be a turd and generate so much heat it'd probably STILL ping
You could go the cheap way and retard the cam 6-8 degrees, it basically would be somewhat similar to 428CJ cam timing and only cost you a timing set. I see it a pretty good match for the use
In the end, you'd have a 272/282 adv 194/204 @ .050 110 LSA on 111 or 112
Compare that to stock CJ cam specs, 270/280, 208/222, 115 LSA on 114.3 ICL
What I would do is:
1 - Retard the cam to 111-112 ICL (seems late but Ford used to install them as late as 114.5 in CJs, they sure didnt have a torque problem, as well as 4 barrel small blocks)
2 - Install your headers
3 - Recurve the distributor to 12 inital / 36 total all in by 2800
4 - Run a 185 degree thermostat
5 - Decide later on the intake, I like the RPM better, much better, but with the tall tires and towing, the Performer will do better part throttle despite giving up LOTS of WOT power so I am really on the fence on whether I would change it. With that being said, I run an RPM in my truck