First off, it is not propane injection a gasoline engine. It is strict propane fueling. Diesels inject propane for extra power, gasoline engines RUN on propane.
Everything is basically the same as far as performance parts are concerned. Compression bump isn't a must, just doable, and advisable.
Propane makes less power than Gasoline. If you take a good tuned, running 350 and go from gasoline to propane, you will lose power if you make no changes.
Now propane has a octane rating of about 108 on average. So that means you can bump your compression nicely, and advance your timing more. Both of those will make for more power(regain some of what you lost, and go beyond that as well.
Cam selection? I have never gotten a clear answer on that from people. To me, being as propane is a gas when it is in the chamber, something with limited overlap would be the best situation, but I have never found any confirmation on that.
Intake manifolds. I've been in debates about this. I've read previouslly that a single plane low rise manifold is best for propane. Lets the gas spread to all of the cylinders evenly, and will make more torque than a dual plane. However, some have told me that is incorrect. Personally I am going with an old holley single plane lowrise manifold I have in stock, I want to try it out.
My engine is a 383, roller LT4 hot cam, 10.5:1 compression with centerbolt 9C1 police engine heads ported out, Holly Street Avenger single plane, MSD distributor with MSD 6 Off-Rod box and an Impco 425 mixer on top. I have yet to run the engine, so I can't speak on it too heavily, just going off the info I have gathered in my build. Compression can gain back the lost power, as well as timing, but propane really likes a strong spark(thus the nice distributor and ignition box for me).
Oh and mileage, you will likely lose fuel mileage. For the same reason that it makes less power, it won't move the vehicle as far with as little(basically because of the lost power), so you likely won't gain any mpg. However, propane on the whole is slightly cheaper(used to be a lot cheaper, but it is catching up), and it burns cleaner. So you can go longer between oil change intervals and have less emissions out the tailepipe. I've heard of guys doing 3,000 mile oil changes and getting damn near clean oil out. My 383 will be Propane run from day 1 so it will be a good test of that information.