350 or 383

I have a 79 nova and it has a stock 305 in it and I am looking to do an engine , trans. and rear gear swap on a budget.  I am wanting an engine that I can drive a lot and take it to the strip. So what would yall suggest a 350 or 383.  

either one would be a good choice...i chose to stay with a 350 with 5.7 rods because you can find forged pistons for it much cheaper also because the 350 is internally balanced rather than externally balanced, also with 5.7 rods the rod to stroke ratio is better than that of a 383, 350s are a little cheaper to build but not by much...so basically i built a 350 because they are internally balanced, better rod to stroke ratio, and you don't pay out the ass for forged pistons. that is if you really want forged pistons...i mean they are a good investment if you ever get a bug in your ass to put a bottle on it or a blower or something.  

383's are fun, make lots of power cheap, but also wear out faster than a 350.
as long as you stick below 175hp nos, don't worry about forged pistons.
nos doesn't kill motors , bad tuning does.
i agree with the 350, if your on a budget it will last longer. well depending on cam, rpm band.
pushing redline beyond 6500rpm =less than 150,000miles between rebuilds on average.
fast/chaep/reliable... pick any of the two out of three.
after 500hp things get real expensive real fast, if you want durability too.
make sure your transmission is rated for the power of your motor. or it may be cheap, but not for long...
rear end is not as big a deal without slicks.
 
plan it out and try to buy everything at one time.  

Find a cast crank 350 or 327 block (made after 1967).  throw out the reciprocating assembly--for the cost of rebuilding, you can get a internally balanced 383 assembly.  One of these with stock heads will make more torque than a 350, and then you save up cash, get a good set of aftermarket heads...and you'll always make more than a 350 with the same parts, just b/c the laws of physics.

but to build a 350, only to tear it down and restroke it?  Nothin's cheap when it has to be done twice.  Unless you can afford to have this car sit in the same spot for a while, focus on a strong rear axle, driveshaft, U-joints, and trans (4 speed auto?) first.  The 305 won't be hurt by them, but the stock drivetrain won't hold up to a hot V8.  you can still drive a strong drivetrain and a weak 305, until you get the engine you want in it finally.  Don't forget to upgrade the fuel system and the suspension and brakes.  check out WS-6 Trans Ams of that era.  Oh, and ditch the radiator too--no sense taking all the gunk from the 305 that's in the radiator, and cycling it thru a new fresh engine.