Hey man choose whichever you feel you can make work without going nuts fabricating/ customizing in the process. A built 302 can definitely make sufficient power to make that Ex move, especially with a more truck oriented/ torquey cam etc. The benefit of putting that 302 in is that there are loads of info on the swap and wiring, adapting motor mounts you can simply order, and plenty of guys on the site to offer you advice when it comes to comparing part setups, drivetrain choices, and fitment.
Swapping in the 350, you are going to have to put a lot of thought into the whole 4WD aspect of the setup, splicing a custom wiring harness, choosing a t-case, and getting a proper length/ yoked driveshaft. Being that you have the 4 door, I don't think you would have to worry too much about how long the custom trans/ t-case setup would be in length impacting the ending pinion angle, which is a nice thing. Honestly, I wish you would go this route, I would LOVE to see a first gen with that monster small block under the hood. It all depends how deep you want to get into a project like that basically running solo considering not many people on this site know much about that motor in these trucks.
Another thing that I worry about with this swap - don't the majority of Chevy trucks running 350's have a passenger side pig in the front axle? I'm sure with an Advance Adapters part you could run the 700R4 with the BW1354 or maybe even the BW1356. RESEARCH RESEARCH!!! haha
P.S. - Nice job on the 3 inch body, that bumper looks great with it.