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I think it all depends on how much money you have to invest up front. The NOS will be cheaper than the SC setup for a carb...anyhow the ones I have seen are. Either way you will be burning extra fuel so that is a non-issue. The bottles take up cargo room, if it is a hatch car then you need to vent the relief valve on the bottle out the bottom of the floor board, etc. Setting up a carb based blower and keeping a tune on it can be a pain versus a mass air injected setup. All in all I think it would be go with what you know.
Why not just buy a 331 kit and bump the compression? Same cost and it is always there. You can find a used roller block and basically build the short block. It would take a weekend to swap all the stuff over from the 306 and then you could sell the 306 short block.
Darren
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'83 5.8L TKO'd T-Bird on the bottle
'93 5.0L Mustang coupe that beat your mom's LTD
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