When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
Id have the mains splayed at least, new bearings, balanced/blueprinted. That tends to get expensive, but if you want a good engine, do it right the first time.
Be ready to spend some money. Usually, you always finish paying more than what you expeted. I have seen some projects go up to $10-15K on just the engine (including head porting).
Do a lot of research, and don't change plans half-way (change = $$$lost).
The cc306 is a good cam, but rember that you can always go with a custom cam according to your application (Heads flow #s, dailydriver/trailer-queen, blower/turbo/nitrous)
you can also get a crateengine ready to go from; http://www.cmotorsports.com/
(I don't have any personal experience with them though)
ohh... I might go with a cc306 on my car. My plans are a daily drive 355ci (I will be spraying a 250shot at the track with a separate fuel system for the my n2o setup)
Don't expect to have the same wild feel of a cc306 cam in a 350ci than in a 383 (big cubes tend to eat cams)