An ideal 302 in a Fox/SN is a Cobra motor for me. Only thing I would replace is the cam (use the Mustang cam instead of the Thunderbird cam), and maybe swap the cylinder heads to aluminum GT40 units. You get to keep it all Ford, and still have almost 300 WHP. Shouldn’t need more than that.
Think about it. Let’s take my former 95 GT 5 speed, and drop this aforementioned motor in. Now add 3.55’s. You can have a car just under 3100 pounds, with almost 300 WHP, that you can wind out to 6000 RPM (and still be making some power, unlike an E7 headed 5.0). The 3.55’s take care of the rest. You will have a car that is tons of fun, won’t immediately get you in trouble, but still be more than respectable on the street while still having factory like reliability.
I think when people lower their expectations to be more realistic, the 302 will regain popularity. Then again though, this is assuming you do the work yourself. If a shop is doing it, forget it…
Unless you have a ton of cash lying around…
One can dream.
The main point is, if you need a new block, you shouldn’t be doing what you are doing to a 302. Let them stay in their zone. There are better ways to make power now.