I hate to break it to you...but your 350HP claim is a bit high. Like a lot of Camaros for a very long time, it uses a 350 cubic inch engine...which at the time was rated at 155 hp. I certainly hope whoever sold it to you didn't claim that horsepower figure.
Far be it from me to tell you what to do, but if I may make a couple suggestions. You have a couple options aside from continuing in the course you have.
- Keep the Camaro, but ditch the motor. You can get an LT1 or LS1 (Camaro engines of the 90s and early 2000s) for probably $500-$2000, depending on age and mileage. Those will make anywhere from 275 to 325 hp stock.
- Ditch the Camaro, buy something else. You could probably get $500-1000 for it by selling it as a rolling chassis, assuming there's not too much rust. You're probably on a fairly miniscule budget, so you'd think your options are limited. There are project cars that can be bought for less than $5k, some less than $3k...that already have working engines, are already faster than the Camaro, and can be made fast...really fast...with another $5k or so. To list off my favorites, 88-91 Honda CRXs or Civics (CRXs are VERY VERY light...about 1800-1900 lbs); 94-98 Acura Integras; 90-94 Eagle Talon TSi and Mitsubishi Eclipse GSX or GST; 89-91 Mazda RX-7 Turbo; 90-93 Nissan 300zx; and the 89-94 Nissan 240SX...then if you're still digging the domestics (personal opinion is to stay away...they have longevity issues, especially over 100k miles), 92-95 Camaros, and 94-98 Mustangs.
I'm far from a mechanic myself, but I have a fairly thorough wealth of knowledge on the subject of vehicular performance, and am more than happy to point someone in the best direction for their budget. 
Online Cheaters: Only one level more noble than rapists. So don't cheat, smacktard.
I believe in the theory of intellectual osmosis, so if I abruptly leave our conversation, you'll know why. Have a Nice Day.
