I don't know from experience, but a local man who is known here as Buffalo sez the 302 can't be beat in the inline world. He has racing experience with inlines and claims that they make the 302 race against themselves at Bonneville as they are in a class by themselves.
As I've said on previous posts, my dream project is a 30s GMC pickup hotrod with the 302, a WC 5speed and Corvette suspension and brakes. Of course I would race it.
If I were to use it more for towing, I would want more of a truck chassis w/the setup I have now (SM420 w/ Gear Vendors O.D.) I'm going with the 261 on my Chevy because it's a well preserved truck that I believe should remain looking stock. (The 261 was an option in 62 and is a bolt-in swap and it will look almost identical to my current stock 235). If it were a total rebuild/rodstoration I would go with the 302.