With the correct parts, machine work, a blower, some dyno-time with a custom chip, and decent driving skills, anything is possible. Not to mention at least respectable fuel efficiency. Any good tuner knows that a street car that can get more horsepower more efficiently is the way to go, which is why -- as many others have in this thread before me -- I'd advise a blower. Dependent on numerous variables, I would venture to say you'd need around 14psi if you want to make a 302 put down that much horse. Keep in mind, 500hp is usually the magic number for 302 blocks to go
snap!
BTW, it was Smokey Yunick (sp?) who said, "how fast can ya spend?"...or so I've been led to believe.
I can tell you, riding in a car with anything over 500 horses feels like God's hand is pushing you down the road,
if you can control it and your chassis is up to the task.
As an example, look at
project Death Machine. Dan's car was from the 5th Circle of Hell when it had a slipping clutch, so I can only imagine what it's capable of now. LoL