292 Or 302

The answer depends on what you want the engine to do, how much money you want to spend, and how much effort you want to put into it.
If you should decide to swap in a 302, it would be best to swap in a corresponding transmission, as adapting the 302 to the Y block unit will be a PITA, even assuming the trans did work right.
Swapping in a newer engine/trans has been done many times, but there are some hidden pitfalls that many guys don't think about. It's also not nearly as cheap as it appears at first.
The cheapest option is probably to fix the existing trans or find another one. Y block manuals are pretty common & cheap. The auto can be rebuilt, even nowadays; the parts aren't that expensive or hard to get. Find an older auto trans guy though. The young ones haven't ever seen a Ford-O-Matic.
Performance wise, the 292 can be built to be a nice street engine. It's more of a challenge than a 302....but that's part of the fun. You will also find that a 292 gets a lot more attention & "Hey, that's cool" than a 302 which is just one of a million 302s ever will.
My $.02.....
If your 292 is running good and has life left in it, perhaps you could get one of them there modern OD transmissions and breath new life into the whole rig.
Scroll down about 2/3 of the way on this page:
http://www.transmissioncenter.net/AOD.htm
I'll spare you the other links I have, but if you want I'll post them. They include beefed up and wide ratio AOD info.
If you have a good running 292, it would make more sense and be easier to do the trans thing.








