ignorant newbie needs advice

[ozkiwi]

Just bought an 86 silverado shortbox 305/700r4/3.42 out of MD which is about to be shipped out here to Australia
It is going to be used to cart motorcycles and general round city driving with the occassional long trip.I was looking for a 350 but the condition of this truck sealed the deal and I thought how gutless can a 5 liter V8 be???

I checked on wiki and it had the LE9 making 205hp@3600 and 250ftlbs@2000
which is the same as my current drive which in American terms is a buick 3.8 v6/700r4 in a ute (car with a tray instead of a seats)making almost identical horse power and torque as the LE9.
It is 1000lbs lighter but the max torque is produced @3500rpm so all in all I figured the silverado would be ok for my use.

Then I joined up here and find wikipedia lied and the 305 is making a weedy 170 hp

I think an immediate engine transplant will be in order and am trying to decide between 2 crate 350s the 260hp or 290? .They are virtually the same price here.
My needs are low down torque for good acceleration off the lights but reasonable mpg.I tend to just plod around most of the time because Melbourne traffic is in grid lock 24/7 these days and knowone is going anywhere quick however if I put my foot down I want something to happen.

Last question which is where I am truly ignorant what does the 305/700r4/3.42 driveline mean in terms of getting the pickup moving away from a standstill in the real world.It is important here because everyone just floors it off the lights and shoots for small gaps in the the traffic.