Does anyone know if you put 305 heads on a stock Chevy 350 what would be the outcome More hp or torque?

Depends on the heads. I have a set of 305 heads on a 355 and it runs hard. the heads have been machined for 2.02 and 1.60 valves. A stock set works to but look for mid 80's with a small cc. The main point being the smaller ports(intake,exhaust) will give you a boost in torque, but it will also raise your compression ratio. Don't forget to factor that in if you are,or decide to run power adders, or simply something that would cause an increase in your engine timing, because you run the risk of detonation.