I have a 78 firebird formula 305 and the engine compartment requires much attention. I dont know where to start and what could be restored or needs to be replaced. Could anyone give me some steps on what to do first and what would need to be straight up replaced or just polished up? Considered putting in a 350. Worth it or not? Also planning on restoring steering and suspension while the engine is out. Any takers on what to do there either?  

carter32, as far as restoration goes, the current condition of your engine compartment will determine how much to do and how much it costs. Is the engine worn out or just leaking oil? Regardless the ideal way is to remove the engine and trans and fully degrease and pressure wash them and the engine compartment, replace any/all leaking gaskets, freeze plugs, belts tune up parts etc. Paint everything in factory colors and reinstall it all. If you want to replace the 305 with a 350, now is the time, you will get a noticeable increase in power and driveability even with a stock motor and visibly it will look stock. It is also a good time to pull the control arms and suspension to replace all the worn out bushings and ball joints (try an original replacement or polygraphite kit from P_S_T.com). Decide what you want as far as power goes and and I'll help you pick a combo to suit your needs. If you want more than just the upgrade to a stock 350, I'll need to know what gears are in the rear, what size tires and rims you are using and how you plan to use the car.
Steve  

hey carter, i am a big fan of chevy engines. one thing i can tell ya is dont put a chevy engine in a pontiac. please. but from my experience with chevy, i like to go bigger.
  if it were me, i would go 400 or 455. like barney said, by looks they are the same thing but with a 400 or 455 you will see a big difference in torque and power. i used to swap stuff like 305 chevy to 350 chevy but wanted more power. if you are going to want power now or in the long run go with 400 or 455  

the engine is supposed to be in good condition, it was "redone" a few years ago but i dont trust it. as far as power goes i'm not too concerend because i dont want to make a race car just a respectable classic. but i also dont want to get wooped by some 4 banger if the opportunity arose. I'm not with the car right now but as soon as i get back i will let you know about the rear gears. as far as carbs go what do you think is the best brand to use?  

It's hard to beat a correctly rebuilt and tuned Q-jet, but my second choice would be a 600cfm EDelbrock for a basically stock small-block. I'm not a fan of Holleys, especially used ones. Seems that every used one you find has been messed with and is so far from the original tune that you can't get it to work right, but that's just my experience and opinion, others may say otherwise.
Steve