Objective My objective is to rebuild my trusty 305 so that it makes 250hp and runs on 87 octane pump gas using stock/GM components to reduce rebuild cost and maintain reliability. This engine is intended to be installed in my 1987 Scottsdale and make daily driving more interesting and extend the life of the vehicle. Im more interested in drivability than wild loppy cams and high top-end (my truck has an 85mph speedometer

).
* Did I mention this is my first engine re-build?*
Short Block I currently have a LE9 305 (engine code H) and stock TBI induction attached to a TH700R4 transmission, unsure about the gears out back.
Displacement: 305
Bore/Stroke: 3.736 / 3.480
Lobe Lift IN/EX .2484 / .2667
Compression Ratio 9.0:1
* To limit down time, I may rebuilt a 305 from an 84 Caprice Wagon. Its a LG4 (Engine code H)
Cylinder heads GM Vortec Heads w/ 1.50:1 Ratio Rocker Arms, 64cc combustion chamber, 170cc intake runner
(Did some research, I may have to machine this down to 55cc depending on the block I use)
Camshaft The following cams are designed for TBI engines and are 50 state smog legal
Edelbrock EDL-3702 Duration: 194/214 Lift: .398/.442
Crane Cams CRN-114112 Duration: 194/204 Lift: .401/.423
Melling RV Cam Duration: 204/214 Lift: .420/.443
(Im almost sold on the RV cam, its a proven cam with hydraulic lifters for under $100)
Induction/Ignition Stock GM 220 TBI mated to an Edelbrock performer manifold. Initially I will be using a stock GM HEI unit and I will be using the stock GM computer with a custom chip from either: Fastchip.com, Hypertech-inc.com or Superchips.com (Could I save some cash by programing it myself?)
Exhaust Edelbrock TES Tubular Exhaust w/ high flow cat and Flow Master Series 40
Future Test Results Hard to tell, my trucks stock HP is 170@4400 and my Torque is 250@2400 these numbers are far from impressive. If I could add 80 horses and 50 more ft. lbs. torque on a budget. All while using what I have, it would put a smile on my face.
I realize that most of you do more aggressive builds and I hope I'm not wasting your time with a "better than stock” build; but
I would like your opinion / advice on these components. My level of knowledge in engines is fairly entry level. I've learned a lot from online sources as well as Chilton & Shop Manuals and doing my own work.