Is a Chevy 350 faster then a Chevy 305?

All other things equal, yes. For several reasons. The biggest one is the extra 45 CID the 350 has. A 305 is basically an underbored 350 and was designed as an economy engine. The small bore of the 305 limits the valve sizes that can be used because of clearance problems with the block itself. If you want to go fast, the 305 is one of the worst small block Chevy engines you can build. Only the 262 and 267 are even worse when it comes to performance potential.