Plenty of 350 threads here with good info.
Potential is good by most all accounts,and end results will vary based on build specifics same as most any build.
The '69 #46 heads are definitely the better head for a mild performance based 350 cid build,otherwise for a strictly MPG related emphasis the #94 heads would be fine too.
Carb choice will play a big role in the whole MPG scenario.
But like 250-300 FWHP and like 15-16 MPG/AVG should be pretty easy goals to hit with a mild 350 combo in a car like yours.
It's a light car,and the OD trans will help the highway mileage a bunch,thus helping the average MPG numbers some.
That would probably be like a low-15/high-14 second quarter mile if that matters to you.
Good luck with it if you choose to go that route.
Bret P.
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