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I would guess by the time you add up the price of everything you would need to make the swap, you could replace your 305 with a 383 crate motor.
Now if you want a challenge, I say go for it. 383's are a dime a dozen around here. You may get be able to get a single turbo manifold kit from ebay and mod it to fit.
If your talking about ANY blow through carb setup or any turbo app with a carb don't waste your time. If you want at least 2x gas milage at least 2x power and at least half the emissions go LS.