IMHO - If you looking at going through the curves stay with the 302.
Hundred pounds lighter on the nose resulting in better front/back weight distribution compared to the 351. Given the products out there you will not have a problem coaxing out 350-400rwhp, especially if you decide to stroke it. If you do stroke it, then go with the 331 stroker for the better rod ratio and to meet your longevity criteria. Further, the 302 reciprocating assembly is lighter and journals smaller (less friction) for quicker revs coming out of the corners.
Last, have fun with your project!
Have you truly entered Jesus ONE "Kingdom of GOD" or the Holy Catholic and Apostolic Church through "water (baptism) and Spirit (Laying of Hands)" John 3:5 ??? Jesus fulfills Ezekiel 36:25-27 prophesy. You see entering the Early Church in this same pattern in Acts 2:38 and specifically explained in Acts 8:14-17 and Acts 19:5-6. Enter His ONE "Kingdom of GOD" to receive Jesus as the "Lamb of GOD" (John 1:29, 1 Corinthians 5:7, 1 Peter 1:19) for ETERNAL LIFE John 6:54.