Need Some Advise/Information On My Project.

I have some stuff sitting around and want to throw together a cheap bracket car to play with on the weekends.. This is what I have for an engine i got it from a friend of mine that works at a machine shop and the truck its in now is very quick infact i would compare the power output to a stock 400sbc.

Engine(s):

SBC 78' 305 .30 over flat top pistons 400 crank(and whatever machine work was neccicery for this..) displacement?(i have no idea what you end up with with a 305 stroker motor) anyway its got a 272h crane cam a set of re-worked big valve 882 heads 1.94 intake valves i believe, 72cc combustion chambers if i recall.. Its got an early 80's factory alluminum intake thats been port matched to the heads and a truck quadrajet. Also a set of hooker headers and collector mount 3" glasspacks.

I also have a buick 350 4v out of a 71 GS but it needs re-ringed (some rust in the cyls) and i imagine it would cost a small fortune to do anything with the damn thing.

The car is a 70 2door buick skylark custom 3.73/posi automatic car.. Had bought it cheap to restore about 5 years ago and where i was storing it a tree fell on it.. Going to knock the roof and side posts back into shape replace the windows with lexan strip it out of everything not needed and strictly use it for a drag car. I am deffinately thinking lower gears and a ratchet shifter but I have no tranny.. Thinking a th-350 since i am very familure with tweaking the shift points on them and they are cheap. Also i know were i can buy a powerglide for $50 but i was under the impression that these are very crappy for a heavy car. I am under the assumption that the skylark is not a heavywieght because when i hauled it i couldn't hardly tell it was there. Looking for a low cost weekend toy Its a total shame that the stupid tree fell on the car it was in very good condition before this and this seems like a good way to save it from heading to the junkyard and have some fun doing it. Also thinking a larger cam a higher stall speed convertor and a line lock will be in order. Also i have a set of 15x8 wheels that will fit it so i can stuff some larger tires under the back... I know a 305 stroker sounds lame but i have it and its in a running pickup(also victim of a tree) and it was a real screamer in the heavy truck with a crappy 3 speed so i think it would motivate the car alot better.. Also had gave to me a good 750 holley double pumper so this might go into the mix. As i said this is kind of lame but i want somthing to race and i have this stuff sitting around rusting so why not put it to use??

http://www.geocities.com/jacob_royer/Skylark1.JPG
http://www.geocities.com/jacob_royer/Skylark2.JPG
http://www.geocities.com/jacob_royer/Skylark3.JPG
http://www.geocities.com/jacob_royer/chevyengine2.jpg

Despite the engine looking like crap it has less than 40k on it and 90psi oil pressure at idle so its not going to fly apart anytime soon..

I forgot to mention this will be ran on 1/8th mile track.