First off you want to rebuild the motor with new pistons. Mark Remmel(Cutlassefi) worked with Mahle to bring a 4032 forged piston with a coated 10cc dish and an ultra modern 1mm/1mm/2mm ring pack. These will boost your 72 motor from 8 to 1 to over 9 to 1 compression. You will need at minimum W31 2"/1.625" valves installed in your 7A heads. At minimum get the machine shop to open the bowls with a cutter, transition with a die grinder after is even better. You will need a cam in the 220 duration to hit that number. Mark estimated my build at maybe 340 hp and 400 ft/lbs of torque. I have those pistons with very similar #6 with 2.07"/1.56" valves with the bowls opened with a cutter. It will be 9.5 to 1 with a 218/218 .525/.525 on a 112 lsa roller cam. The other issue is the weak factory TH200 trans, upgrade to a TH350 at minimum. Personally an upgraded TH2004R is the best of both worlds but your 82 may require frame extensions. Also the factory 7.5" rear is weak, the soft open spider gears are the first to blow. I blew them up and broke a Powertrax No Slip at the track on slicks in my 88. Even if it is a factory posi, they are actually worse, tiny spider gears. The cheapest upgrade is the 4th generation Camaro/Firebird used Zexel Torsen worm gear posi and the 3.23 to 3.42 gears usually equipped in the cars. They do require a 28 spline axle upgrade but Moser axles are a good idea anyways to replace the weak factory 26 spline axles. A Detroit Trutrac is a similar new set up, if used can't be found.