Years ago I purchased a 77 F150 with a 351 in it. I had it bored .030 over, dropped in a 400 crank and rods, and made a 400M out of it. Has a C6 in it. LOTS of torque and power. Will smoke the tires until you need new ones.. Gave the truck to my dad for a birthday present. Yours has the 302 which is a good engine to work with.
Here are some things I came across.
1: While working on it, if you have to have the hood off, cover the engine with a KNOWN good tarp if it will be outside. In my case, the tarp had a small hole in it that happened to line up with the air cleaner assy, and I ended up with water in the cylinders.
2: Even with the hood on, water can get into the factory air cleaner. Thus the rubber strip between hood and firewall area. (Yes, I had this happen TWICE and ended up pulling the engine again) To be sure, cover it well!!!
3: If you have the engine out, do everything you need to do under the hood while its out. Heater core, heater hoses, AC lines, etc... Also, Install the plugs before you stab the engine. There is little room to work on the passenger side while the engine is in it.
4: Check Ball joints, King pins, etc.. as you would with any truck, but especially the drag link & Idler.
Good Luck, and let us know how it turns out.