It'll fit, but will be super tight. and unless you spring for the all-aluminum 427 (which IS NOT cheap), your car's handling will suck. I would suggest rebuilding your 302 with a 351 firing order, some flat-top pistons, nice heads, and a good intake/carb. It may not make quite as much power as a 427, but it will save you weight and will honestly be more fun to drive.