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That cam is too big for a low compression small cube motor with stock heads. 882 heads are rated a 76cc combustion chamber volume. You need to decide whether you're going to use forced induction or not before you go any further with your build. I suggest staying away from boost as you're going to pour more money into that 307 than it's worth.
I'd build it with 416 heads off a 305 H/O from an F-body or G-body car, or 081 heads off an F-body TPI car, even aluminum L98 heads from a TPI-era vette will work. Your current intake should bolt up to these heads. Ditch the cam you have picked out for something along the range of a Summit K1101. Full length headers and a free flowing exhaust will make most out of the combination. A good set of tires, new shocks, bushings and a gear ratio of 3.08-3.73 will make the most out of this combo. That's how I would do it if I had to.
I have to say though that you'd probably be better off just swapping in a better motor. Any gasoline V8 from a 96-01 GMT400 chevy truck will slide right in place of the 307 you have and already be a more powerful combination for cheaper than doing anything to the 307. That means you could even have a 305 if you're bent on being different by having an externally identical engine with less displacement. All you need is a vortec-specific intake manifold.
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