ive done some looking into high hp small block NA motors, you can get over 350 with a 306 or 302(same thing), you have to have a good set of heads, and nice intake mani, and custom cam. compression at 10 is probably good, but i think i read somewhere that another 1:1 (ie 10.1:1 to 11.1:1) is about 30 hp increase or something like that. if i was you just get a 331, nice afr 185's and that systemax intake, custom cam, nice lifters, valve springs, ect, then 36lb injectors, and big tb's and MAF, and good exhaust and you should be about right.
I think you need to research a little more. If you are already talking about what timing your going to run... you need to look into building a motor LONGG before you worry about timing. 10:1 306 will be very very tough to make streetable 375+ to the tire. Bigger cubes is easier to make more streetable power. A 347 stroker is a good start, but stock block or no? If you plan to spray a 375 rwhp motor with a 150+ shot, a stock block might not be smart. Heads are easy, cam is someone elses job (custom is the way to go) carb vs efi is a tough choice.
Do you want a 7000 RPM 306 that works great on the track and ehh on the street, or a 6000 RPM torque monster that is more suited for the street but probably more expensive.
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