Well...
I didn't use a single kit part, being more the DIY kind of guy. My car was a 302+.030, H/C/I 5 speed. I used the Explorer front end, which pulls the belt and accessories back about an inch, for added clearance. Still not much room. I built my own accessory mounts and serpentine drive system, built my own motor/transmission mounts, etc. I used a V6 radiator with a 3 row high density core, shrouded, with the biggest fan I could fit, and it still didn't cool as well as I wanted. I used the later style Ford power steering pump with the remote reservoir, again because I could make it fit. I used Megasquirt fuel injection, ran it through Magnaflow cats & mufflers, and a true dual 2.5" exhaust with some old but solid 1.5" 'long tube' headers.
The car ended up heavy, probably heavier than a Mustang, but it didn't start out that light either. I'm sure the iron heads, copper radiator, and steel motor / accessory mounts didn't help, but whatever. Neither did the power windows, dual exhaust or the 13" S60R brakes. The weight distribution went out the window, and the car didn't handle nearly as sweetly as it did before. It went pretty well and sounded fantastic, and I guess that's the #1 reason why most people do it, but I had lots of engine troubles, the clutch cable kept melting running past the header, and I hated the heavily overdriven T5 5th gear and overall the package never satisfied me, so I blew it into a million pieces.
If you do it right, use lots of aluminium, and keep it simple, I'm sure you can chop 100-150 lbs off what I built. The stumbling block of the Chev/240 is, in my opinion, the rear mount distributor. I never even RAN a distributor, so it probably would have made no difference to me, and had I considered that to begin with, I would have thought seriously about a 350 though the added weight still bugged me about that.
Be sure it's what you want before you spend all that time and money, and be ready to work out a bunch of bugs and live with the downsides. Ian's spent the better part of 10 years messing with his V8 car, is on his 2nd engine, 3rd intake/carb setup, 3rd set of heads, 4th or 5th camshaft, 2nd transmission, (all $$$) and hundreds of hours planning and executing all the little things that make it look nice and perform reliably. Personally, if you want a V8 there are a TON of options out there with bigger engine compartments, tougher rear axles, and space for more radiator. They all came with V8s to begin with, and that's my point. Buy a Fox body or an F body and you're 100 miles ahead. If you want something different, do a G body or a Crown Vic.
Oh, and I think you're all forgetting about Alex (frepea) up in the Chuck, with a 302 (soon to be 347) 245.
Edit - The result of me doing the V8 swap is to remind me of how GOOD the Volvo turbo engine really is. Develop it properly and it would outrun any naturally aspirated 302 or 305, and won't complicate your life nearly as much. Build a strong turbo-specific B23 or B230, get a decent header and a properly sized turbo, stick a good transmission behind it, and you're gonna surprise a lot of knuckle draggers.
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