The 302 is a decent enough engine and does not weigh too much, lots of tuning parts available.
Engine weights in the following link, looks like the Chevy is 575lbs and the Ford around 450lbs - ali heads will save lots of weight on these figures.
http://www.bacomatic.org/~dw/library/txt/engfyi.htm
They did quite well in the South Africa touring car championship
