Bearing kit and gears can be had for well under $200. Gear choices are based on the series carrier - 2 series, 3.08 and numerically lower and 3 series, 3.23 and numerically higher. There are spacers and various gear sets that can be purchased to run 3 series gears on a 2 series carrier, but step one is determining what gear ratio you want based on your transmission top gear ratio and tire size. Most transmission's top gear ratio are in the .65-.72 area which doesn't equate into much of a difference, so the next factor is tire size. Stock G-body 14" tires are dinky, hence the high gear ratios. Installing a tire 3-4" taller creates the bulk of the issue, hence the need for a rear gear ratio change. Couple this with a trans swap to an OD transmission and the gear change is an absolute must. All of this, coupled with your engine's 'happy spot' in rpm range, will decide the gear ratio that will best suit your need.
Where is your engine's 'happy spot' and what size tires are you going to be running?
Regarding your question of durability for a 350HP build, yes it will be adequate without an issue.