Snake -
You're a good sport!
How "built" is your 302 and what size and kind of tires are you running?
In the long run I would go for the ability to drive the car without getting beat up by a bunch of revs....
.....I am sure that with almost any gear and a decent clutch you could smoke them whenever you wanted to, therefore I would go for a gear that you can live with.
I would lean toward the 3.27's.
Does your wife or significant other ride with you much?
Good luck with your choice.