The lower you get the truck, the better it's going to handle but, it will still handel like a truck. You can put a 4 link rear suspension in it, that might help handeling. To get the 302 higher hp, get a 347 stroker kit for it and put it in it, probably the best upgrade for a 302, A nice flowing set of aftermarket heads would probably help also OR you could save yourself some time and just drop a 351 Clevland in there.