347 is about as far as anyone goes with 302's. Other options are 331 and 327 (which I think vary by bore size). That needs a stroker crank setup which you can pick up on ebay/summit/etc.
If you bore it out past 040 you start running risks of hot spotting. 060 is about the limit of conventional wisdom and even then I would want to be sonic checking the block before use.
If you have a good head/cam setup on that 302 you might do better by stepping up to a 351w block as you can take the heads along with you.