About how much hp does a 305 have?

Justa guess but I'd say right now you're no more than 190-210hp...and that's being generous.

I'm with Shaun on this one, although I'd hesitate to call your cam garbage, since you don't have any cam specs available. I'd estimate that work was done to the heads if they took the time to put in the work on that 305 block and cam. You didn't mention whether the intake was stock or not - I'd estimate less power if you have the stock flow-challenged intake.

A 305 can get close to a streetable 300hp if built properly, which makes for a pretty cool bragging rights. However, you would get much more out of a 350.

Consider yourself very lucky at 230 HP.

The cam you have is garbage.

The carb is the best there is, once you blueprint all of the air bleeds and then match up your jet/metering rod combo to go with those bleeds. You'll also need to work the channel restrictions and idle tubes, secondary emulsion tubes, and then add some by-pass air and modify choke pull off release rate.

After you do all of that to your carb, I bet you pick up at least 20 HP.

You should be doing all of this to a big bore block, not a small bore block (305)

So you have a rebuilt 305 with an unknown specs Comp cam. I would guess if everything has been done right you might have as much as 220hp but more likely in the 185hp range. Poor heads, poor compression, poor exhaust and EPA tuneup combine to kill any horsepower you might have had. I mean, the Corvette 350 from that year made an unimpressive 245hp.

I'd say about 260ish on the low end and up from there. it's really hard to guess I'd need specs on what your running as far as internals to really know.

:edit:

305 stock was running 190, you add a quadra jet, the cam the bore... you'relooking at more tan 210