What do i need to swap a 302 for a 351?

I have the stock 302 in my car now and i wanted to upgrade it and its jus not worth the money to get any real power. I heard it was easier to get 400-500 hp out of a 351. My buddy told me that he had a 351 with 40,000 miles on it running condtion sitting in his garage. I could get it for 400 bucks. Now what kind of power can i get out of a 351 if i stroke it? Also what is some recomended steps that i have to do before such a swap. can i use my t-5 or should i look into a different tranny? Im not worry about breaking it cause my budget is somewhat tight but all i want to kno will it fit? also should i carb it of keep it fuel injected? also what to u recomend for heads, cams, injectors, throttle body, all the good stuff i need to know before i shoot myself in the foot?

thank you:SNSign: :SNSign:
jus to let u kno power doesnt bother me the more the better