How much power/tq is this combo worth?

306 would make around 320-330rwhp depending on compression.

A 331 would probably make 340-350 but with more low/mid range too.

A 347 would obviosly make more than the 306 and 331 and cost the same as the 331. No need for a forged crank in a stock block.

If afr's are what you want, use the 185's or 205's depending on your goals.