[RockSnake]

My very first hot-rod held a 302, so I'm possibly biased, or nostalgic. However, please consider the following:

The Ford 302 has the smallest external dimensions of any American V8. This makes it MUCH easier to work-on than other engines.

Although many parts are interchangeable, the Ford 351 is both wider and taller than the 302...but the same length, and noticably heavier.

The above comment about hp-to-weight is well-taken. Without the anti-skid controls the C5 offers, a 302-powered cobra has enough to get you in trouble.

The above comment about fuel economy is also valid. I know people who get 4-5 mpg out of their big-blocks, I get 18-20 (even using the horsepower).

Ultimately, you need what suits you best.