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Hi Bartruff1,
Welcome to Club Cobra!
A friend of mine who is your age had the very same feelings about not needing excessive power. He had a Ford Racing 351 (385HP) installed in his SPF (along with a Tremec 5sp), and he's very, very happy with it. Not too powerful, very driveable/streetable, yet plenty of power without leaving him wanting for more.
If you have not done so already, please go for a drive in a similarly powered SPF in order to judge your performance needs.
Also, an SPF is not a light car, when compared to the aluminum (originals and replicas) and other replicas. It's not the heaviest, but definitely not the lightest. For this reason, I suggest the 385HP 351 motor. This would give you similar power/driveability to a vintage Corvette with a 327, as an example. If you were looking at a Factory Five, for example, then a 302 would be fine, since F5 replicas are much lighter than SPFs. I see no need for you to install a stroked 351.
Hope this helps. Doing the research is 1/2 the fun!
Regards,
Randy R...
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