This question has been asked before but please let me hear some ideas. I have a 71 satellite 4dr, 318/904 w/ 8 1/4 rear with gears probably around 2.76 or so, currently 245/60/15's, power discs with rear drums. Would like to have at least 300 hp if do-able, and as much torque as possible in a daily driver, pump gas car thats fun to drive. Probably looking at magnum heads b/c from what I can tell they are a great bang for the buck, but give me your thoughts and ideas.

Scenario #1. Engine is opened up and bores are in good shape, etc... and engine does not need to be completely rebuilt/machined etc... What would you do. Hone, re-ring, magnum heads, mill heads for compression, if so how much, headers, 4 barrel carb, dual plane intake? All ideas welcome.

Scenario #2. Engine needs to be completely reworked. Which pistons (brand, cast, forged,etc...), heads, intake, etc...

Again any ideas would be greatly appreciated, and cost is an issue so please give me you most economical options.

Thanks
roe