Help with my 267

If ever their was an engine that kinda put a gag in the back of your throat, it is the 267. My friend has a 81' Camaro with a 267 that runs just sitting in a field. I have convinced him to sell it to me for nothing and now I have a car to play with. I was going to drop a 327 in it and have a blast, but I started wondering what the potential of a 267 is. My goal is to keep the stock block, and probably even crank, add an intake, carb, cam, headers, and some head work, and hopefully have a peppy engine that is pretty quick, shooting for 300+ horsepower. I think I can pull it off and might even be able to embarase some mustangs on the way smoking them with my lil ol 4.4L.

Ideas and comments are welcome.
What kind of output do you think I can get out of a 267, or am I wasting my time.
Keep in mind I dont want to set a land speed record, I want a reliable daily driver with moderate milage that can run a low 13 quarter mile.

I've seen 283s that were good little street/strip engines that ran mid 14s in mid size cars, but I think the 267 is too small for even that. Heads are junk, bore is too small to bolt on anything that flows better. If you did head work, small cam, appropriately sized exaust sytem, etc., maybe high 14s and still be a reliable daily driver.

I have seen a class racer running a 265 in the 11s, but no way was it streetable, i.e. gigamongous cam, 5.13 gear, etc.