I wouldnt do it... I've got a 74mm with a small exhaust housing on my H/C/I 302 and I see full boost at 3,500rpms. Below that it is very laggy. Also it will be hard to keep the power down. At 8psi I'm making over 500rwhp in summer time heat.
If the kit is cheap enough buy it and do some hardcore research and use the money you saved and buy the turbo you need. You can always sell the 76 or keep it for later use.
306, TFS heads, Victor EFI, XE282, Tremec, 10" tires, and NX nozzle