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Without a VIN and pictures of the trim tag, engine pad and transmission stamping, there's no way to know what it left the factory as. However, his wording of the "date coded 302/290hp motor" leaves me to believe it's not the original engine. If it was, he would probably have said "numbers matching".

Ed
 
Did you ask him to send you pictures of the driveline? No way would I proceed without pictures of those components and verification that they are original. Also, why is he not finishing the project?

If he does send you pics of the driveline, post here on this site and you'll get feedback whether the components are original. If they are all original, $20K seems reasonable, plus or minus a few thousand.
 
I think the way it's worded it just a period correct 302 not original. The rest might be though. I think it would be a good deal if it's what he says it is and all the parts are there. If I were looking I'd at least look at it.
 
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