351 or 302?

I'm looking at a '66 convertible (project). It has a 351w and a C4.

My first question is, if I want to make this a daily driver (for the summer at least, as we get a fair bit of snow here 'round wintertime), would it make sense to track down a 302 for the gas mileage, and maybe a 4bbl carb for some extra oomph?

And secondly, how tough would it be to throw in a 5- or 6-speed? Normally I'd just wait til one showed up that already had the 302/5-speed set up, but the price on this is just too good ($8400, runs and drives).

Any input in addition to this would be welcomed. Thanks so much for your help!
 
Nothing wrong with a 351. You can provably get the same gas mileage out of it that you can get out of a 289 or a 302 as long as you don't sink your foot into the floor all the time.
 
Honestly you wont get enough better fuel mileage to make the swap, unless you trade even and spend nothing on the swap you will lose money. Say you spend $1,000 swapping to a 302, thats 384 gallons of gas at $2.60. Lets say you get 20mpg. 16 with the 351. Thats a 4 mpg difference, and it would take a LONG LONG time to save the money you spent swapping, evern longer to see and savings from it. 351 is a good engine, more torque, if it runs good leave it in the car.
 
Since its an automatic car, you could also do an AOD conversion. Either way I will also vote for an OD transmission swap.

I would keep the 351 since its already there. I doubt you would see much if any mpg difference with normal cruising.
 
I recommend the 351w (obviously). If you use a 302 you will always wonder how it would've run with a 351. I have a 351w and a T5 in my 68 and to be honest, it really isn't bad on gas at all. That engine barely has to work to move a car that light around, and with overdrive it's even better. I barely touch the pedal in normal driving.