Engine and Tranny Help for the Newbie

[Redleg]

So, as ive said in a couple other threads. I currently have the 307 with 3 OTT.

My truck is seeing highway use, so the 3 OTT has to go. The 307 is stock with 130,000 miles. Heads, manifold are for 305 and carb is brand new, but the block is untouched.

Since this is a DD, i really dont want it down for an extended period. Or want my wallet more empty than it already is. (unless someone is willing to shake the dust out and replace it with those pretty green things).

I have no desire to build a 400+HP motor for this truck. If i can get around 280-325 i will be perfectly happy...

So, here are my current ideas.

1.) Rebuild the bottom end of the current motor, mild cam, possible small bore. Replace tranny with T5. The problem with this is the time it would be down to complete rebuild. The Pro would be it would be cheaper.

2.) Find a donor 307 block and rebuild it. Problem with this would be I would need to keep it close to stock so i wouldnt have to mod the heads much. (unless somone can say differantly?) Same time i would bolt up the T5. The problem with this option would be the cost of a 307 donor block. The Pro for this would be the time the truck would be down.

3.) Find a stock 350-350/400 combo. Problem with this is I have looked into replacing the 3 OTT with the T5 and its pretty straight forward. I havent yet looked into replacing the 307 with a 350 or the 3 OTT with an auto 350/400 tranny. I dont know how tough or much it would take? Remember this is on a budget and performed by a semi-newbie......

So now my questions for you guys...

Which option would probably be cheapest?

Which option would be easiest?

Which option would you choose?

If the 350-350/400 answer is the majority. What will it take? Direct engine replacement? Tranny replacement?