Hi Jim and welcome to the Explorer forum. The 302 in EFI form is very good as an all around engine for a heavy car, the 302 Explorers are 4500lbs. The carb and Performer will hurt the bottom end, keeping the EFI would gain more down low than any cam or other possible changes. But if you have to do the carb for simplicity, it'll be fine.
You are old enough to see what a lot of things cost these days. Keep reading and figure out what kind of costs you can handle, much of your issues will be the labor, finding decent reliable people or shops.
The stock cam is good for any basic street uses, only if you upgrade the heads, intake, and cam/valvetrain could it help to go to roller rockers or bigger upgrades. The 1.7's for example only gain lift by 1.7/1.6 math, the stock .444 lift is gross, not cam lobe. So 1.7's might gain .47" more lift. That's plenty for any stock cam and not having PTV issues. But the power gains would not be felt, and definitely not gain any real rpm, so the rpm shift point would still be near 5k. The stock rockers will be virtually silent, roller rockers are fairly loud, even when adjusted properly.
I have a pair of new Flotek 58cc heads I got after someone else had them ported. They are new with upgraded custom cam springs, I'd take $1100 for them even since the cost increases. Those are very good for mild builds, a street 302 is the right application for them. Those more expensive heads you see that are $1800ish and more, those are all great heads and more for much more powerful levels.
I have a best friend who has his dad's Galaxie that he never got to restore. He'd like to fix it, but I doubt he will, it's rough but more or less intact. I don't know what parts are available from the aftermarket, lots of old parts like trim and interior etc, those make a restoration a huge challenge. Good luck with the project Jim, I hope it works out and is lots of fun.