I'm new to this site, but have been working on cars since I was three(well ok fetching wrenches for my dad at three). We always had Fords and a few Mopars. In my opinion I'd do a 351W based stroker for the numbers you are looking at. Stay away from cast internals for parts. I have looked into numerous companies in reference to strokers(Coast High, DSS, Hawk, Wynne Speed). They are all going to push their product, but I have gleaned a few tidbits that they all seem to have in common. The 347 used to have
oil consumption problems, as the wrist pin was intersecting with the
oil ring. This isn't a big deal with RACE engines, but the guys that were using them on the street were having
oil consumption problems. None of the 351W based strokers seem to have this problem. Some of the new 347 strokers have a modified design that supposedly eliminates this. Another concern is the bore to stroke ratio of the 302 strokers. So after all that I'd choose a 351W based stroker using quality components. For my dream Cobra I am in the process of building a 351W 427 stroker from Coast High Performance. If you have any Q's about it just shoot me a email.
Just my 2 cents.