This is from my own personal experience.
My 93 with 306 and a Vic Jr intake and 4150 Holley on it,.. I COULD close the stock hood with out hitting the carb but I had to take the stud for the air cleaner out.
I replaced the stock hood with a 2.5" Cobra-R style hood. And with a small 2.5" tall air cleaner the hood would still hit the air cleaner. A 3" hood would have cleared it,.. but just barely.
This is the hood in question.
I had to run with out an air cleaner at the track.
IMO with a 351 and taller intake like a Vic jr your going to need at least a 4" hood. With a Performer RPM I think you could get away with just a 3" hood. But definitely aim for something larger than a 2.5" hood just to keep a safety margin.
Hurst