Coming from a 175 owner with the GO-300,
If airframe conditions were similar, I would definitely go for the 0-360.
The GO-300 is not a bad engine, it runs incredibly smooth and makes great power but it is a pain to work on and parts are getting scarce. You can pretty much forget overhauling it and the values with the GO-300 are much less, even if it is low time. I'm in the middle of an O-360 conversion on mine and I figure I'll probably have between 15-20K in the conversion all said and done which isn't bad considering the engine is now 0 SMOH but it has also been a 2 year process procuring all the parts I needed.
The physical part of the conversion is very east and straight forward, but the paperwork end is not, the only way the conversion even comes close to making financial sense is getting an Avcon S/N transferred to your airframe and getting the mount, airbox and brackets sourced from a wrecked/parted out converted 175. The owners of the Avcon STC are basically unreachable so that presents a bit of a challenge even if you do get the rest of the parts and conversion S/N, it can be done though. Once those hoops are jumped through you need to use a little common sense since there is zero technical support and have a sensible IA work with you to file the 337. This is the most affordable way to do the conversion right now by a long shot.
The other conversion options that I know of for the O-360 are the Del-air and Stoots, Del-Air is north of $16K for the parts/paperwork minus the engine/prop and from what I have heard Stoots is a bit more. The physical/technical part of these conversions are the same as the Avcon but both businesses are still around and the support is much better from what I have heard. Either of these options will end up running you well over what the plane is worth alone not even considering the purchase price or what you have in the plane to begin with, depending on what you can pick up an engine/prop for you could easily be into it for $40+k
For that reason alone I'd buy the one that's already converted. There are other conversion options out there too though, probably the least expensive is the 0-470, 230hp turns them into beasts but the owners with them claim they are quite nose heavy. There's also the continental IO-360, which honestly if you were going to go the Del-air or Stoots route anyway, I'd probably do that for about the same price. You keep the smooth 6 cylinder and get 210hp.
The 175 is an awesome airframe though, they have the 40deg. manual flaps, tall landing gear legs, large fuel tanks, 1,000lb useful load if kept light and can usually be picked up for cheap. Even with the GO-300 its a good airplane, but with the o-360 its really hard to beat for all around performance and utilitarian value when it comes to the price point.