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I have always thought that Chevy either had and abundance of 283 blocks left over or an abundance of 327 cranks or they needed to keep running either or both of those parts to pay out tooling costs.
As far as the 305, it was obviously a mileage motor using the 3.48" stroke crank to bring torque readings up a little to move the heavier cars/trucks and still get decent mileage.
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