How did it run before?
Depending on how that engine was originally put together, that could be pretty high compression with a tendency to detonate, not a good idea in general, but even with a tiny bit of pinging, power is reduced (through knock sensor timing retard). No idea what the 305 heads flow, probably no better or worse than 350 heads that era.
TBI heads are good for lower RPM motors, Vortecs are obviously good, but a flat top piston, .040" quench, and ~9:1 compression will have you running 87 octane and no knock, assuming fueling and timing are handled correctly.