IMO, there's no better way to make power than with a 351W swap....think about it...you START with more cubes than a stroked 302 can even have, and if you get a Dart block or equivelent race block you can get an easy 426ci out of it!! That's big block cubes out of a small block...you just can't beat it.
A couple tips i can give, is if you wanna do this RIGHT, and i mean really make the best of this swap...do a few or all of the following:
1. Get aluminum heads. That'll drop an easy 50lbs off the motor. Extra weight is one of the few setbacks to a 351W swap, but this helps a lot.
2. Get a tubular K member and A arms. This can get expensive quick, but if the budget allows for it, you'll save a solid 100lbs with this and the aluminum heads and you'll easily weigh in right next to an iron-headed 302 with stock K member. This way, you get all the cubes and power with no added weight.
3. Get solid drop-height motor mounts. This is for a couple good reasons. For starters, they're stronger than the rubber style and you'll really feel the power from your motor. 2, if you're going EFI, hood clearance is gonna be an issue if you don't already have a cowl hood, and the dropped height will help get it lower in the engine bay. 3, the 351W has a bit of a taller block (not sure exactly how much) but either way, that adds up to higher center of gravity and poorer handlling. Lowing the motor in the engine bay will make up for this.
After that, your setup will easily crush a comparable 347 combo if built nicely, i.e. good heads/cam/intake, and it'll do it with the stock 351ci. If you wanna go supercharger, my suggestion would be to get a roots style supercharger and build it up like a Lightning block. Speaking of Lightnings....a LOT of the earlier Lightning motor toys will work with your 351W, which means there's actually a good amount of goodies out there to pick from.
About that hood clearance....if you get the dropped motor mounts and you decide to go carbureted...if you build a mild 351W, you can get an Edelbrock Performer intake and take your pic on carbs but DON'T run a carb spacer, then get a recessed breather similar to the old stock snorkle breathers, then put a round K+N filter in that to make up for the air flow and you'll clear the stock hood with ease. I had a 351 under my stock hood with that setup, but i used a Weiland triangle breather.