Is a 302 small block any good! (Now its 5.0 efi Lincoln limo engine and axle)

It'll be about the worst version of that engine you can get, probably 130hp or so. If it's cheap enough it's worth having as one to build though, they're great with a few mods and pretty small

Looks like a 302, the 351 intake is about 2" wider than the 302.
They are good engines but as Matt said it may well be a lo-po motor.
Easy to wake up but it will cost, just depends how far you want to go.
Looks like a C4 trans. This may need attention as well so budget for this. Easy to do yourself though.
Unless you know for sure it runs it's a rebuild and the price should reflect that although they still fetch good money.

They are good engines.

I've owned the 260, 289, 302, and 351 versions of it.

The 302 is probably the most common, and that one is quite a bit lighter than the 283/327/350 Chevy ( but I still prefer the Chevy )

Unless you have a HiPo 289 ( which that one isnt) the heads will be really restrictive.

The later 5.0's are better, but not by that much.

Some later Explorer heads are big step in the right direction, but a better bet are some aftermarket heads.

( don't get the super cheap Ebay ones, I've heard stories of them lasting one single 1/4 pass )

Lots of aftermarket stuff available for them to make them go faster.

Even if you'd run the asthmatic stock heads, a mild cam ( like a 268H Comp Cam ) and a 600 Vac Sec Holley with a 4BBL dual plane intake will make a big difference.

The C4 is a good transmission, and you can get stall converters, manual valve bodies, etc for them too.

Great engine for a light car.

Although if you live in the UK, a Rover V8 could be more practical...

A word of warning about US Ford stuff, they like to make things almost fit between the different ages.

So things like pulley offsets, etc , can vary by a lot.

So make sure you know the exact year it was made ( you can tell by the casting # near the starter), and ask questions before you order anything.

Re Rover's, they're bigger than the 302, expensive to rebuild/tune and are not that powerful in stock condition. Mine p*sses oil out as well, a common issue. I'd take a 302 and C4 ( as said a good trans) any day.

302 is good to go with a few mods - Explorer heads/Gt40 heads - avoid the ones with 4 cast in lines on the front of the head as they need a very specific header - Cam and a performer inlet and a brawler carb and you are going to be good for 300ish crank.

Matching converter and shift kit in the C4 and you are going to enjoy that in a light car - match it up with a T5 and it will be even better!

P.

It will be going in a Ford Hotrod.
I'd prefer a ford engine.

Bargain!

£650 is good for a runner. It's pot luck whether it'll be worn out internally (most are) and TBF it doesn't really make much difference to how they run.

For £650 I would say that is a bargain.

And ( to paraphrase Brian in Hot Rod) If you are going to rebuild it might as well go fast....

Let me have a look in the Shed of Tat (tm) - I might have a shift kit for the C4.

P.