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You could have your carb blueprinted by Jet Performance for the cost of the rebuilt carb. I had that done a few years ago and I have been real happy. Summit Racings generic brand cams have the same timing specs as the Edelbrock for around $80.
If the 305 has a lot of miles I would be hesitant about throwing much money at it. I would fix whats broke and stop there. The 305s I have had were worn out at about 150-160K miles.
For the cost of a cam and carb ($350-$450) you could probably find a decent used 350.
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