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Gary, I don't see why couldn't get 300 hp. The 350 will be a great engine for your car. Maybe think about headers but not a big deal. Are you wanting to stay on the computer?
The issue of the cooling ports vs the heads is not an issue. Don't worry about it a long as its the correct gasket. Just a note, earlier engines use a different head gasket than the later 77-79 units. So you are fine with the 76. When mixing older vs newer blocks and heads, allways use the head gasket for the block year.
If you go off line of the computer, you will need a lock up device for the 200r tranny. You can go cheap and manually use a switch in high gear, if not spring for the controller...about 75 bucks I think. And if no computer, You'll need a non ccc carb and distributer. If you are using the computer, You 'll need to use the ccc carb and distribuer from the 307.
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1971 Cutlass S 455/th400 3.23 rear---new interior allmost done.
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