Thinking more on this and adding to my earlier post, I would definitely make sure the engine is running reliably and as strong as it can be without spending tons of cash on it. There is a lot that can be done to pep it up and IF you can find a 4 speed box, that would be a good thing for the car. Where I would spend my money is on making sure the suspension, steering and brakes are upgraded. Certainly better disc brakes up front, power preferably, but even non power disc work way better than drums. ( we don't know what's in it now). Also beefier anti-sway bars will make a huge difference to handling.
There is a ton of stuff you and your boy can do together without unduly risking his life. The 302 has more than enough power starting out and way more than one of those "rice-rockets"
This is just one guy's opinion, its' up to you what you decide to give your son.
With best intentions,
Geoff.
Geoff,
I totally agree that most kids do not need a muscle car. I will say if they bust their knuckles and sweat building/repairing the vehicle they are more apt to be responsible with it. Case in point my first vehicle was a 1977 Camaro. My dad and I built from the ground up. It was a full interior street/strip car. It had a 10:1 compression 454/468CI BBC, Comp R308 650 lift roller camshaft, Torker II intake, 850cfm holley double pumper, Mallory electronic ignition with MSD 6A, TCI reverse manual valve TH400, TCI 3500 stall converter, and 4.10 gears out back. To top off the combination twin Holley blue pumps one to supply the engine and the other for the 250hp Magnum Plus nitrous system. Yes all that without a roll cage. The quickest pass was 11.27 @ 128mph on Pro Trac N50's back in 1985. I had an absolute blast street racing and going to the track with my dad. Yep I was that 15 year old punk kid that was one of the quickest street cars on the MS Gulf Coast in the mid 80's.
Wow, that was some car!!! Hey, don't get me too wrong. You know what your sons temperament is and how they handle themselves. If you feel your son is able to respect that sort of power, then why not build something he will remember all his life........ which I hope will be a long one.
My own son had an 80's something Shelby Charger at age 16 and he handled that very well, no tickets, no crashes.
Good luck with whatever you decide to build.
Geoff.