my 305 tpi needs head gaskets so i will most likely pull it but what engine could i swap in there that would have good torque for the street

 

Could always drop a 350 tpi in there, all you'd really need is a 350 longblock, the different knock sensor, 22/24lb injectors and a stock eprom from the same year car with a 350 and whatever trans you have. I believe thats about it, someone correct me if I'm wrong. That would be as easy and cheap as it gets and youd have plenty of torque for the street.

 

Head gaskets alone is not a reason to swap - those are fairly easy and can be done in the car. But we all look for any excuse to swap!

 

Yea iw as going to fix the 305 but it might need rings or maybe somthing major. But i was thinking of a lm7 5.3 would that be alot more $$ than just a mild 300-350hp 350

 

LM7 is an LS type truck engine. Check the LS1 swap sticky for information on those details.

The cost of the LM7 is next to nothing with regard to the total swap cost. You will need passenger car (f-body, Vette) intake manifold, f-body accessories & oil pan/pickup, swap mounts, (at this point you're already over the cost of the LM7), a different transmission (highly recommended - although you can make a 3rd gen transmission "work", the costs and hassle make it much simplier to get an LS-type 4L60E or T56), custom exhaust work; and if you want to keep AC, some fabrication is required.

I'm not saying don't consider it, I'm just saying understand what is involved.