I don't disagree, Vigo, I just think he would have a much more drivable combo with more torque, power, and mpg if he started with a good $250 Vortec shortblock. Especially if his TBI block is a non-roller. (but it likely is a roller)
At 300 hp, you can do that easily with any 350 shortblock, I just think that its better with a different block and doesn't really add anything big to the wallet. No amount of EFI will compensate for a poor DCR due to a low SCR. Yes, it can be made to run well, but I just much prefer to match SCR with the cam and head flow so I get a peppy combo with good throttle response and doesn't smell like a refinery at the tailpipe :)
Short story: He can get 300 hp with more cam, more head flow, poorer street manners, more fuel consumption... or he can start with a better shortblock and do the same thing with less. The more you lower SCR and try to make the power with more of something else is where you get into mismatched components because you are reducing DCR.