I thought we already put this thing to bed. If I'm reading the following correctly: "PLEASE REMEMBER THAT BUDGET IS A BIG DEAL!!!!" then do a budget 302 build. You can do a GT40/P, small cam, Eddy intake, 550-600 carb for very little. You WILL NOT beat the bang for the buck. Just do it and quit posting up polls. 
Marcus

Marcus
You will most likely need a new hood with a 351, unless you cut a hole in it and put like an '82 GT hood scoop on it.
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