[MEDIK418]

1.you can't do a rebuild with the engine in the car.
2. 3000 worth of stuff didn't get me into the 12's.
Here's what I did during my Summer vacation:
306 w/ 9.4:1 TRW's, all new ARP fasteners, rods and main bolts. entire rotating assembly balanced. Total seal gapless rings, Ported stock E7 heads (new guides and keepers too), new valves, springs, FMS roller rockers, F303, ARP Gorilla oil pump drive (don't leave home without one) TFS track heat intake, BBK 70mm TB and EGR spacer, Pro-M 77 mm mass air meter, 24# inj., BBK adjustable FP regulator, BBK long tubes with off road H-pipe, Flowmaster American Thunder 2 chamber exhaust, 3:73's and an aluminum driveshaft. It's overinjected for now and it STILL won't hit 12's.
This was on my oldest son's 89 GT and in reality some of the stuff was done over the last year but the engine was a project we had a lot of fun with. I have no idea what we both spent on the engine but it was more than $3500 and less than $4500. That. . . is before the intake and all the associated pieces parts. Intake, TB, Mass air, injectors and the like went over a grand alone. And we did everything here at home but the machine work. He has plans for some heads next as this is an evolutionary project that is at the mercy of his finances but it's gettin there. After that, he says it's blower time. He tells me we'll be doing that installation sometime this Summer. I can't wait.
Back to your question, I'm probably doing something wrong but I don't see 3000 bucks getting into the 12's with the 302 you're going to use. I hope you do, and maybe you will, but the experience I've had with this one hasn't produced it yet. I didn't expect it to but still.