Transmissions aren't irrelevant FWIW. That is why manufactures are switching to more gears and the automatics are becoming the only option. In many cases thanks to new lubricants and better materials finishing processes the power train loss is not as significant between the various types of gear boxes as well compared to what it once was. Obviously it has a lot to do with keeping then engine operating in it's zone of peak efficiency, and fewer gears makes it harder to accomplish that goal, so just food for thought. That being said though, if you are swapping for efficiency purposes, you would be better buying the whole package but that is kind of like stepping over a 10 dollar bill to pick up a penny.
To put it in better terms, do you like the current driveability and power level of your current truck? The add a FI system to it and it's just a simple way to add slightly better mpg's and far better cold start reliability. if you are a weekend warrior and drive your truck only when the sun is shining and the temps are right then leave it as is.
If you are truly wanting an easier path to reliable power and the guts are wrung out on your old bullet then an alternative upgrade path is an LS swap, but I would not consider it a cheaper option, and I'd also offer don't try adding your SBC peanut butter into the LS chocolate because it seldom turns into a Reese PBC. it usually ends up your LS motor is too much for the Basic 700r4 and your stuff gets Bruce Jennered, and then you got a motor that runs hot, blown out tranny, and still looking for a driveshaft.
Guys will tell you they did a 1K LS swap and did a turbo for less than 1500 and that their 700R4 works great. Everything has it's season. If you want it to be done right, look right, and more importantly, work well and last a longtime then you will spend much more than that.