Keep your eyes open in the classifieds. I picked up a complete 302 with 25k miles on it, including all the front dressings, fuel injection, wiring, etc for $650.00 last summer. After a lot of cleaning and painting, it now looks incredible. Yesterday, I fired it up for the first time and let me tell you, it makes a 2200 lb car move in nothing flat. My little cobra with a stock 302 has some flat-out scary acceleration. These guys that run 351s and bigger are nuts. Of course, I like nuts
Another thing you may want to consider is the cost of insuring these cars. I'm 33 and my insurance is $569 every six months with high limits. At 21, the insurance is going to be murder on your checkbook.
The wiring isn't as bad as it sounds. Pick up a Painless 10102 universal harness. The instructions look a little thin at first, but are actually very good. Send me emails if you get lost, and I'll help as much as I can over the phone or over email.
Good luck
Robert
feddersenr@verizon.net