My question to you is "why would you want to do this?"
305s are notorious dogs. I've thrown at least a half-dozen away. And a 292 is a great motor. At least I sure like mine.
Don't get me wrong...I've got several "twin-fours": two 406s, a 454 and a 3 or 4 355s. But for my truck, I sure think the torque of the 292 is a whole lot more useable than the mediocre power the 305 produces.