Iv built a 305 for a Iroc that i was restoring a few years ago, I put some very nice tricks in it. got 325hp of power out it. But I wouldn't do it again. for the same money and the same tricks would have gotten me 400 or more out of a bigger engine. find a nice 350 from a scrap yard, craigslist or somewhere there out there, it will be worth it. try to find a 87 or newer thay have one piece main seals, center bolt valvecovers and if you snag one from a camaro or T/a it should be a roller cam engine.

but if you insist on that 305 My advise would be to use a smaller cam than what most people would suggest for a small block. 305's have smaller bore than the other small blocks. and just dont respond to bigger cams and carbs like bigger engines do.