This has been on my mind, and I toss it around here and there... My two cents:
My 305 4bbl has no issues whatsoever. Starts with the tap of the key, runs like a champ. No reason not to run it. I am just letting it breathe.. Edelbrock intake, headers, and dual flowmasters. Sounds great, runs great, I'm good with that.
It is what it is.
Is it the fastest thing on the planet? Hell no.
Do I race it? Hell no.
Does the New 5.0 Mustang GT next to me at a stop light revving his engine get any attention from me? Probably a smirk, and a "Really?" kinda look...
I'm not in this for speed, nor power, but that's just me....
If you think about it, the G-Body isn't the Greatest Platform for Mega-Horsepower. That might sting a bit, but flat-out, it isn't. Now, could you dump thousands into the suspension? Of course you could, but at the end of the day, you still have a G-Body, that was Never Meant to be a "Sports Car".
Unlimited funds, you could make it bad *ss, there is no doubt about that... Go Shuffle down the 1/4 mile track, turn out a 9, smile, and have a nice day.
Me? I am going to run the 305 until it goes t*ts up... which, in all honesty, the 305 will probably out-last ME. But, if it does go t*ts up, I am leaning towards a 383. Why? Because everything I have on that car is already SBC and will bolt right up.
The Ultimate, unlimited wallet thing??
Poncho 6.6L 400, 30 over, full roller, mid-range cam... build the 200R4, and build the rear diff to handle it.
In all reality, it will probably be a Stout 383 because of everything I already have bolting up to it.. Money doesn't grow on trees.
But that doesn't mean if I find a 6.6L 400 with 6X heads at a great price, I wouldn't jump on it to "start down that road".
At the end of the day, it all comes down to what You want to do with Your G-Body.... and your wallet, and your goals.
More power to ya, keep us informed, let us know how it goes, and enjoy your car... I do, you should as well.. Take the haters with a grain of salt.
-Gonz