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Dave:
I'd buy a Forged 331 cu in rotating assembly, they go for less than 2 grand, use your same block and the J-302 heads (BTW:J-302 alum. heads are very good heads), put in a hydraulic roller cam with the lift in the 550 range and you should have about 400 hp and a very streetable yet fast motor..........
I have the Eagle forged 331 rotating assy., and love it, with flat top pistons, you should have around 10 to 1 compression and run fine on premium pump gas.....have a good shop go thru the heads and do a valve job, add some good roller rockers and your in business, probably could get it done for around 4 thousand tops............
You have a very reliable and stretable motor with plenty of pep............
David
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DAVID GAGNARD
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