The 305 vs. 350 SBC debate is pretty clear- you can do whatever you want to a 305 SBC, but if you do the same mods to a 350 SBC it's gonna make more power and be much stronger too. I've made more than one 3rd gen Bird owner very happy by not rebuilding his 305 and swapping in a 350 SBC.
The 301 vs. 350P or 400P debate OTOH is just so funny to me. The 301 guys like to argue and give you this 4" thick thesis of how the 301 can be built to this awesome Pontiac engine that the rest of us diehard poncho guys have somehow overlooked. How is it possible for those of us who have been wrenching on and racing ponchos for 20+ years to miss such an awesome engine like the 301 and 301T? The answer is simple- we didn't. The 301 is not designed and built to the same standard as the 326-455 Pontiac V-8 family, and when modified in the traditional way all Detroit V-8's are done fails to hold up to the additional power. It's acceptable for stock applications, but just wasn't developed enough to make more power.
We all have our favorite T/A or Firebird engine, and despite my preferences I've learned to work on all of them, and even warm them up. In close to 30 years of wrenching on 2nd gen F-bodies I've seen more than my fair share of destruction and carnage under the hood- when my customers ask me to build them a bulletproof engine for their Bird or Camaro, it's either a Pontiac or Chevy V-8.
Geno