Buy a TVR engine 4.5 or 5ltr. I used to work at TMS in Melton Mowbray and we fitted them in land rovers (Litchfield), suited them very well. the 4.5 is 285 bhp and 310 lb ft. you can't build one for any where the price you can pick up a good secondhand TVR unit.
One of the mums at my daughter's school has a grey Lichfield Range Rover - Austec Racing in Crawley look after it for her.
Very lovely it is too.
I spoke to Dom Trickett at TVR Power about them and he says that they have full TVR spec heads, polished crank etc, but a milder camshaft grind to give them more torque - as befits 2-tonne range rover not 1-tonne griffith.
They won't make as much power (250bhp for the 4.5) but will have much more torque lower down (340lbs or so).
I had a 4.3 big-valve TVR engine in my defender before I put the chevy 6.3 in it and it was not at all suited to the application - all the power was at the top end where the auto box couldn't access it.
This engine is now in my mate's 90 with a manual box - goes like the clappers because the power can be accessed properly.
Whether you stick with your 3.9 or you do buy a TVR engine then make sure you swap the cam - Piper H180 is fantastic for land rover application and gives great torque in low to mid-range and works really well with the auto box(22 bhp and 30lbs over standard and slides straight in)
Mark Adams Tornado chip works well also and improves fuelling, gives better MPG and allows more aggressive timing set-up.
Add some Ashley headers and you have a 3.9 that goes better than a 4.6.
There is a great website from eliot of this forum
WWW.MEZ.CO.UK - go to the section on tuning the Rover V8.