If you have to go with a v8, the 350 is a MUCH better choice. Mostly because there are SO many more possibilities for future upgrades. Also, a lot more hp from the getgo. Lastly, lots of available parts at low cost. My brothers and I have had 305s before and for the most part, they have been gutless wonders. The exception was a 79 Pontiac Sunbird. But that was a very lightweight car.
This is just my opinion, but I would opt for a 292 inline 6 before any of those bellybutton motors.
