How much power are you wanting? If I remember, those LO5 305s only made about 170hp. If you're not wanting to pull the engine....Then I suggest.
Edelbrock Performer TBI intake
Get 2 new injector pod gaskets and longer bolts for them, the extra 1/4 inch actually helps!
Headers
Open Element Air Cleaner
Underdrive Pulleys
Dial your timing in if you want more power, You may have to run 93 octane though with the advance to prevent pinging.
But those mods would run you around..... depend if you bought new or used, $350-$750
The best bang for the buck is a set of gears (3.73, 3.90, 4.10).