I have both of these engines.
I have a '92 ext cab with the 4.3, and my Blazer with the 305.
The '92 has 215k on it and still running strong. No smoke, no leaks, nothing. Oil has been changed every 5k miles.
The Blazer has 106k, smokes, leaks like a sift, and does not have any more power than the 4.3.
If your choice is between the 4.3, and the 305, I say go with the 4.3.
If you want a v-8 to put in it, don't go with a 305, go with a 350.
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Chris
'92 ext. cab s/b 4.3L "Sparky"
'04 crew cab 2500 4x4 6.0L
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