I just measured a GMC engine and a 292 Chevy that are sitting side by side in my garage, they are both almost exactly the same length from the back of the block to the end of the water pump shaft, both are 33" long. My 292 is stock bore but if you choose to bore it .060 it will be a 302. The 292 has 7 main bearings and the 302 GMC has 4 mains, so the lower end is stronger in the 292, the head of the 302 has nice ports and valves so it breathes good, but the 292 head can be easily modified to breathe better than the 302. Unless you get a 12 port head (read expensive and rare) for the GMC, the 292 with a little work will make a good bit more Horsepower than the 302. There is no substitute for cubic inches, so the 292 will always make more horses than a 250. My mildly modified 292 with head work, cam and headers with 3 Weber sidedraft carbs makes about 350 Horses, and is a great street engine. Destry, good luck with the '47, I know you will enjoy it whatever engine you use.