347 StrokeDaily Driver Opinions and advice needed please..

Ok..Given it is going to take a while longer b4 I get in to building the motor in my project car I would like to get some suggestions...I want to go 347 and don't plan to bost it at all. I also want to be able to run on pump gas, have pretty good long term life of the motor and be able to do some driving around town and things when its really nice out. I figure I will be happy at around 400hp. The main thing is. In order to figure out what this project is going to end up costing...I need to solve this part of the puzzle first ..so If you can give me sugestions on part combos or crate motors that would be great...I already figure about 4 grand on body and interior. Main things to mention are I am keeping A/C for comfort (not building a race car) emissions are no factor. I am unsure if It will be affordable/streetable to stay fuel injected or if I have to just go carb. I will let you guys make reccomendations..Here is what I am working with
1988 gt hatch
Bone stock 302 with emiss unhooked by previous owner. 167k doesn't smoke suprisingly and doesn't seem to burn oil or anything. stock tranny .

Any advice or sarcasm is welcome ...jsut so long as I have an idea of parts list and prices :) Thanks guys.

BTW..I am not real intelligent with motors yet as far as the tiny details but everyone helping me is I will try not to ask to many questions
 
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You will be fine, really better off with fuel injection, you just have to buy the right parts to support your power goals. The main thing is that at 400 horse power all of the stock drive train parts will break, not sure which tranny you have but neither will hold up to 400 horse, the aod(automatic) will fold up like a house of cards in a stiff wind, the t-5 will do a little better but with your milieage it will break to, the posi will not hold up at all a eaton or a auburn unit is the best as far as i have seen on here. make sure if you are not mechanicly inclined to find a engine builer who knows efi, and can point you in the right direction, all motors are different and have specific needs to makes them the best but generally, with a 347 the stock block is okay, buy the whole rotating assembly, but find a local guy you trust all the crate motors are way overpriced, then you would new new injestors(30lph most likley) a 75mm throttle body, and a 80mm mass airflow sensor, better plugs and wires, and new coil, with more spark, and really and new distrubter, to macth all that extra fuel and this may or may not be obvious but a good head cam and intake package is the key to making it run
 
To build a 400 hp stroker (starting with nothing but a block) is going to cost you a lot of money. The list of parts is long since you are starting with nothing.

Might be a lot cheaper to add boost to your current motor. You wont see 400 hp right away but you upgrade over time.

I would not worry about the stock tranny if you dont plan to race it.