Torque is what causes acceleration. There are three ways to increase torque, a larger engine, higher compression ratio, or more mechanical leverage in the drive train (final drive ratio).
The 280Z & the MGC have considerably larger engines & more torque.
Since the relatively small MGB engine has little torque to start with, the only option is to increase it with gear ratios.
Low numerical axle ratios, overdrives, or 5 speeds will give lower cruising rpm but must be down shifted to get much acceleration. A four speed with numerically low axle ratio will have to be down shifted to third for acceleration & the optimum ratio may be missing (gap too wide between fourth & third). With small engines, the more transmission speeds, the better.
If originality is not of concern, I believe the five speed with a reasonably high numerical axle ratio is the better way to go. Available overdrives are great but costly & not totally reliable.
D