Imagine that you have just bought a brand new 5.0 Mustang. Take it out and beat the balls off of it like you know you're gonna do with a 347...how long would you expect a new engine to last under race conditions? Most of the high mileage 302s you hear about are the ones that are driven and not raced. I would expect to do a rebuild at least by 50k miles even with the best rings and bearings, and especially new valve springs if you have a radical cam and wind out the RPMs a lot.