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So, the only experience I've had with Z cars was for a few months, when my roommate had a '73. Suffice it to say, I'm probably diving head first into project car hell with no idea how I'm going to get this car back on the road. 

But, a week ago, talking to a guy about his cars (Went to look at some VW Fastbacks, walked away with a Datsun) and now I have a rolling 240z shell that he handed me the title for. No motor/tranny, no interior, one of the fenders was unbolted. The floorpan is rotted out beneath where the seats would be as well as the spare carrier, but the body itself is pretty solid and as soon as he said it was free for the taking, I started thinking of building my first filthy V8-swap car. Completely minimal, weld up the pan, build a drivetrain, wire up the bare necessities for street legality, weld in a seat and drive. 

The most mechanically intensive thing I've done before was a VW aircooled engine, but can get my hands on a decently built 305 for next to nothing (I've been reading that 305s are turds compared to 350s, but having never built ANY V8, a 305 ought to be a good start right?) and a freebie Turbo 350 (If I can't find a 4 or 5 speed, but I've read terrible stuff about the BorgWarner T-5s).

So, here's the question list
-Is there really that much benefit in getting a 350 over an easily accessible 305?
-How common are compatible manual transmissions besides the T-5? Are the horror stories something to worry about? Again, I can just throw in a Turbo 350 but would prefer a 4 or a 5 speed manual if I can find one in a junkyard.
-The rear end, I figure, on the Z should get swapped out. Are there better rear ends available on newer Z cars that can easily be put in? Or should I be looking for a custom beefier rear end? 
-Are there suspension modifications necessary? Or is the weight difference low enough that I wouldn't have to change things or beef things up?
-Wiring looks a bit haggard. If I'm just wanting to wire up for a motor, how difficult is it to modify the harness up front for the V8. 

On the other hand, all the glass and most of the body panels (I think the cover for the clutch master cylinder, and the front grill, are the what's missing) are there. I have access to a CNC machine to weld the pan and to make motor mounts, and coincidentally I'm helping out on a 305/Turbo350 swap into an '80's Toyota Pickup. I have no reasonable expectation that this car will be ready for the road this year, want to take my time learning as I go. Not really a restoration, but a rat rod project I'm starting. A filthy V8 Datsun 240z rat rod of a car that probably would have gotten sent to the crusher if I didn't bring it home. 
 

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Any pictures ? I would work with what you have or can get cheap . You can always upgrade it later . Of course 350 is much better than 305 , bigger is better . But you want to get it running and driving as soon as you can . You don't want to have a 5 yrs project . Standard is fun to drive but hard on stock half shafts and rearend .

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Although forums and Internet searches will give you a lot of good info on the swap, buy the V8 swap book from JTR. It will consolidate a lot of info into one quick reference book, and was written for exactly what you are thinking about.

 

And do the 350...think about how much the aftermarket supports and tech articles were written about for the 350.

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The only running difference between 305 and 350 is the bore.  However, the blocks are completely different; a 350 block has much more cylinder material so it is inherently stronger and more reliable, can be bored larger, and can therefore make more power.  if I recall correctly, the cooling and oiling passages were also redesigned for the 305 to reduce physical size, but were proven to be ineffective.  As mentioned before, the aftermarket is geared towards the 350, so parts are readily available and amazingly cheap.  You can get an entire rotating assembly kit for well under $1000.

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