The main reason for four valves instead of two is weight. You will have two smaller intake valves that will equal the size of the one intake but will require less energy to operate. Same principal with exhaut valves.
You have an overhead valve V8, and there are some 4 valve heads for a 302 but they're ultra rare. Today's modular engines are called overhead cam engines and the moniker for them have evolved to 2V, 3V, and 4V. These represent how many valves per cylinder, 2 valves are 1 intake and 1 exhaust. 3V is 2 intake valves and 1 exhaust. 4V is 2 intake and 2 exhaust.
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