back in the day a goose the horsepower on my 1988 Firebird Formula and twisted the unibody not enough to make it run different but it did make the T tops leak. based on the range of options you want to put into the car I have a feeling you haven't done too many projects yet,if that's true I'd stay in the GM what was available family of motors.... Like a tasty 350.
although a supercharged 3.8 is a good idea as well. In the 80's Connecticut State Police use the grand national with the 3.8 to chase Porsche 911s
and if you been watching the price of the F body cars they're starting to creep up slightly. will they be the next big thing ...I don't know
But maybe....
Anything different than a 350 ci Chevy small block and you'll end up dropping the body on a dragster frame in order for to stay together. You'll have your hands full of enough necessary modifications that you don't realize yet.
A nice crate 350 or 400 would drop right in. You could put headers and exhaust on the 305 knowing you can use them for a 350 or 400.
383 crate engine would do nicely!!! 350 would be the cheap way to go.
Any small-block Chevy 283-400 CID. 305 is a boat-anchor smog engine. Keep in mind, if you go modern injected, you'll need the ECU to support it. Go with a 350 and small 4-barrel carb.
I was thinking about getting a project car. and I saw a 87 firebird. it currently has a 305 v8 carb 4 speed auto. I was thinking of putting something a bit more power into it. I was wondering what engine of maybe what car can fit into it with little to no problems. I guess the engine currently in it still works but I just want something more up to date with fuel injectors and power. well being a 87 we know they have room under that hood lol. so if anyone can get back to me about it thanks. also if you could tell me what car that engine could come out of also that would be cool thanks