Let's talk about lifters
 

How much of an issue does utilizing the trays present? Would it be better to go with a more economical link-bar, or more premium drop-in?

I'm not sure a link lifter is going to be more economical. Johnson Lifters makes a both a premium drop in as well as a link bar option. These are very good choices for upgrading the LS valve train. The Johnson 2110 lifters from Brian Tooley are excellent for most applications.

My thoughts were between the Johnson 2110 and say the morel 5290

Link bar lifters eliminate the possibility of a lifter rotating sideways to the cam and causing massive damage. Paying a little more for a premium lifter is probably a wise choice.

do some searching on here for the 5290 or its twin from lunati and you'll find many people have had them fail. imo the 2110 would be my choice there, if you want to spend more (not a bad idea) then look into the 2116 from johnson or a comparable morel.

the 2110 lifter is a good design and is used in the copo race cars.