I also like the 366 but not for 1500 bucks. For that kind of money you can get a real good start on a 383. I have a 366 in my C60 and it pulls great but with the same gearing a 383 would be just fine. And like crenwelge says you might be happy forever with the 383. IMHO don't replace the 350 with a 307. I think I would spend a few hundred dollars and find a running 350 and put yourself right where you started for the least amount of money. Then you could plan the long term strategy for your truck's drive train. Good Luck
SimS