From your post, I have no clue what you do with the car, or what your HP goals are.
I can add that I would in no way go with a 347. The sideloads are just too much for the 302 block. Specialy if you're spinning it. If you want to put 347 badges on your car and drive it to Burger King once a week, yea, it will last. But if you actualy use that power, it will not hold up. Seen it many times with my drag racing friends, lifespan of a beat 347 sucks. Take the next step and go 351, it will take the abuse, and won't cost much more to build. If you want to stroke a 302, I think a 331 wou be the way to go.
I would probably just go turbo or S/C and don't look back. You can allways build a better longblock later, and with boost it just multiplies. I had a P600B ProCharger on my 86 Saleen years back. It was a E7 headed bolt on motor, 3:08 gears still managed high 12s/low 13s in Denver altitude. But man, on the highway, you drop to 3rd gear at 55mph it would spin the drag radials and feel like a sledgehammer hit you in the seat, that 170MPH speedo would see tripple digits within 5 seconds. It was a rush.
