Engine Rebuild?

Just have the block bored .030(if it needs to be bored at all). These blocks have plenty of meat left at .030. Many have bored them to .040. After that they start getting a little thin walled and the structural integrity becomes questionable(water jackets etc). Your parts list looks good btw. I would recommend looking into a pro m meter instead of a BBK though. The pro m is a higher quality piece but the BBK will work. I would just refurbish the rods and crank and grab those Pistons. When ordering your heads get the smallest cc chamber you can to increase the compression like previously stated. You will also need a steeper ring&opinion gear set. Most people like a 3.73 ratio with the automatic trans. If you do the 306 w/TFS topend kit-modified AOD-3.73 rear you will have a very fun car that will last a very long time.
 
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And whys that?

because you can only bore an engine so far before it is junk and doing this should give you an extra bore . . also, if you ever sell the engine, it will be worth a little more money to a buyer that knows engines because he will know he will be able to get an extra bore out of it.

also, the more you bore an engine, the thinner the cylinder walls become . . the thinner the cylinder walls are, the more difficult it becomes to cool an engine . . this becomes even more of a problem when an engine is stroked and/or air conditioning is added.

also, some of these engines have slight core shifts from the factory which causes one side of the cylinder to be thinner than it should and the other side to be thicker than it should and the thin side reduces how many bores you can go and also make the engine more difficult to cool.

the only way to determine if a cylinder has a core shift or is thin from rusting away in the water jacket side for the last 40 years is to have then sonic tested which might cost around $200.00 or more.

the extra 3 hp you might get from going to .030" instead of .020" isn't worth the trade off.

the bottom line is that there is not one single good or logical reason to intentionally bore an engine out more than necessary, especially if the cost to do it is nearly identical but there are plenty of very good and logical reasons NOT to do it.
 
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I've done a bit of research...... And I think this might be fine?

Gonna go with a 306, so...
Trick Flow Mustang Top End Kit, w/ Track Heat Intake Silver (87-93) 5.0L
This gets the heads, intake, cam, timing chain, rocker arms, push rods, and valve covers and to compliment the heads,
http://www.summitracing.com/parts/mle-twf245030f06/overview/make/ford
Mahle forged pistons made for twisted wedge heads,
Ford Racing High Performance Mustang Hydraulic Roller Lifter Kit M-6500-R302H (85-95 5.0L, 5.8L) - Free Shipping
performance lifters,
Accel High Performance Mustang Fuel Injectors - 24lb 150824 (87-04 V8) - Free Shipping
24lb injectors with matching MAF,
BBK Mustang Mass Air Meter for Cold Air Intake and 24lb Injectors 8004 (86-93 All) - Free Shipping
with all the other bearings, and gaskets i can get at a local auto store.
Anything else you can think of that i'm missing? For just the engine rebuild alone, still looking through for the transmission.

My take on boring out the motor. You want to bore it out as little as possible. IF you can get away with just honing and new piston, better yet. However, on a hgh mile motor chances are the cylinders are tapered and worn more towards the bottom. Your machine shop will measure and tell you if you need to bore them out. A 306 may make 10-15hp more than a 302. That is why I say if you are going ot build a 306 you are better off doing a stoker to 331 or 347 and pick up the cubes, where you will make more hp from the corresponding cam, heads.
 
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Yea that makes sense. I'll just take it to the machine shop first before, get it measured, and go from there. But like I said before this won't be till early julyish, because school interferes. Thanks for all the input and help. When the time comes I'll take pictures and post a thread. :)
 
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