If you want a sweet junkyard engine, go to the yard, look for a maroon or dark blue or silver Fifth Avenue with the half-vinyl padded roof, '86-89. Find one with a really nice interior.
Pull the engine and take it home. Leave the intake manifold and two-barrel at the yard.

Degrease engine, take it apart. Number everything because you're going to reuse most of what you find. Here's what you should find:
0. Roller 318 block with next to zero wear in the cylinders.
1. 302 heads.
2. Flattop pistons with no signs of excessive wear.
3. 645 connecting rods, they started out as a 340/360 forging and are quite strong.
4. Cast crank in perfect shape.
5. Hydraulic roller cam

Send the cam to Bullet for their 259/316 grind on both lobes, that's Patrick's favorite grind for this job, should set you back less than $150.

Disassemble heads, keep everything in order.

Read Steve Dulcich's article on porting the 302s. Forget putting in bigger valves, just work on the ports. Don't do a valve job until after!!!!

Reassemble engine with good parts, I am using Crane 833 springs, Patrick has a couple of other favorites, the Comp 901s being mentioned a lot. You should probably cut the valve guides down at the same time, stock stem seals are 0.625, valve stem size is 3/8, so you need a 0.625" cutter on a 3/8" pilot. I got the cutter from the 'bay for $50. I did mine with my Milwaukee drill. Now you have retainer-to-seal clearance.

Put it all together and stick the intake of your choice on top. Mine is a 1976 or so 360 cast iron spreadbore intake and I'm going to use a Quadrajet because Scratchin told me to, also because I want MPG!
Add a distributor with a decent curve in it, a set of headers or good manifolds and you're looking at an honest 250 hp, maybe more, that will be able to drive past a gas station.

R.

Your kid may want a 440 but a nice 318 will allow him to actually afford to drive the vehicle.