Well found out that i have a blown head gasket which is pretty annoying but since i will do all the work and labor i just look at it as a treat to work on my engine. Well the reason that i have called you all in here is to discuss the idea of possibly building my engine or less favorably a new one. So i have about 1200 dollars to spend thinking about new cam exhaust carborator already have a jet chip. So please voice your opinions i would love to here what my best options are. prefer to be able to reach the 300 bencdhmark if possible!!!!
Thanks allot guys.

 

You're honestly trying to do too much with too little $$. To do a good rebuild on a small block you are going to spend right at $1000. It'll be cheaper to rebuild a 350 than the 305 you already have, all you'll have to do is find a rebuildable block.

What I usually do is drop the block off at the machine shop with orders to bore, hone and clean the block, usually cost around $250.

I then pick up a "crank kit" from advanced auto for $125. This kti has a machined crank with matching rod and main bearings. Use your old 305 crank as a core....they won't be able to tell. You can then get a gasket kit, set of flattop pistons, oil pump and timing chain....add another $250.

Next step is to decide on a cam, you have a couple of choices here. First and cheapest is to go with your stock cam, which will be a necessity if you don't want to learn to burn your own chips. Next would be a LT1 cam, which costs less than 30$ used, last would be to go with a flat tappet cam, which you may have to do if you get a non roller 350 block. An aftermarket roller cam is pretty much out as they'll cost 25% of your budget.

Lastly and most importantly is the heads. You are down to about $500 left in your budget. A quicky rebuild of your heads (valve job and resurface) will run about $200, add in setting up the heads for a bigger cam with new springs will run you another $150. You are now up to $350 for stock heads. You can pick up stock vortec heads for $500 and they'll make 30-40 hp more than stock, but you'll need a vortec specific intake to make them work and that will put you over your budget. If your used heads need valve guides (most do) you need to add another $150 to your head rebuild.

If you do any reading here you'll quickly realize that any mddifications you do to add power to TBI powered vehicles will require re-programing to support the power. Mail order chips won't work....period. Your only option to make power with TBI is to learn to do your own. If DIY chip tuning isn't for you, you need to aim lower with your rebuild. The best thing to do is rebuild a stock 350 and use a stock 350 chip to run it. Other wise just rebuild your 305 and get it on the road.