Hi Robert.............Where do I start ?? OK engine 302 I presume good rods nitride crank with celvite bearings,forged piston of course the stock ones are fine 427 oil pump baffle oil pan with windage tray......... We used the factory racing cam but they have a lot better now.......... The big weak spots are the cylinder heads they are prone to cracking.
The front suspension is too easy today ........ http://www.detroitspeed.com/index.html and whatever your budget will allow but shocks springs and solid bushings are a must for optimum handling and buy the biggest sway bar you can find.
The Muncie tranny is pretty bullet proof the only weak spots for us were the transmission ears prone to cracking.
For the rear again Detroit Speed ............Things to look for are rear springs, possibly a rear sway bar, beefy shackles with solid bushings and Koni shocks........ The weak spot for us was Axel shafts from GM I think they had an issue with the heat treating I hope this helps.
Good luck with your project,