While the bowties with 2.02's will fit the 305 cylinders with a +.040" over bore you'd do best for your truck using the 416's. If you fully port the 416 w 1.94x 1.50 valves you can actually make these lowly heads flow better than the bowties do in in stock as cast form.
As stated I would check bore clearance and VTP clearance when using those bowtie heads.
The 416's once fully ported will work very well, flow decent and make lots of power.
don't be shy with the die grinder. Use a felrpo 1205 as a guide, the meat and potatoes is deep in the port. Don;t be shy. Needs more than a simple pocket port.
mill as required to get the required chamber volume (51cc to 64cc)
When you cam up a 305 its critical to get the cr correct.
When you cam up a 305 the power range moves up quite a bit so don;t be shy with the converter and gears as it will loose low end torque and want to rev.
You want at least a 3000 real stall speed when using any of the cams you suggested. (A "10" 3500 stall converter will give you the desired 3000 stall behind a 305 motor) And lots of gear.
If you are not going to change the gears and converter , keep the mild short duration cam. 1.6 rockers will increase lift while retaining the short duration
its very easy to over cam a small cid motor.