The most common form of this engine used a two-barrel carburetor, initially with 9.5:1 compression.   It had hydraulic lifters and valves of 1.773 in (45.0 mm) (intake) and 1.442 in (36.6 mm) (exhaust), and was rated (SAE gross) at 220 hp (164 kW) at 4,600 rpm and 300 lb⋅ft (407 N⋅m) at 2,600 rpm.   Optional was a four-barrel version rated at 230 hp (172 kW) at 4,800 rpm.   

The 302 was manufactured in Windsor from 1968 to 1978.   This is where the 302 Windsor name comes from.   In 1970, the manufacturing of the engine was moved from Windsor, Ontario to Cleveland, Ohio.   Along with the move came most changes that stayed with it for the remainder of its life.   These were longer valve stems with rotating lash caps, bottleneck-type rocker studs for a positive stop nut arrangement, and a longer pushrod to correct valve train geometry.   

Emission regulations caused a progressive reduction in compression ratio for the 302 two-barrel, to 9.0:1 in 1972, reducing SAE gross horsepower to 210 hp (157 kW).   In that year, U.S.   automakers began to quote horsepower in SAE net ratings; the 302 two-barrel carried a net rating of 140 hp (104 kW).   By 1975, its power dropped as low as 122 hp (91 kW).   Until fuel injection began to appear in the 1980s, net power ratings did not rise above 210 hp (157 kW).   

From the 1978 car model year, the 302 became more commonly known as the 5.0 Liter, although its metric displacement is 4,942 cc (4.9 L; 301.6 cu in).   Ford may have used the “5.0” moniker to distinguish the 302 from their 300 cu in (4.9 L) inline six, which was known as the 4.9.   

In 1983 the carbureted engine was replaced with throttle-body fuel injection.   For the 1986 model year, Ford went to sequential multi-port fuel injection which is identifiable by the large intake with the EFI 5.0 badge on top.   Electronic fuel injection first appeared for the 302 on the Lincoln Continental in 1980.   

The first incarnation of the 5 litre or 5.0 brought some more subtle changes to the now-dated 302, namely some subtle cylinder head and valve-train changes.   A new ‘Cleveland Style’ rocker arm system was incorporated, along with rotating valve spring retainers in place of just the rotating lash caps.   A water passage revision and a firing order (1-3-7-2-6-5-4-8) change for High Output variants saw out the 5.0 to the end of its days

This engine was continued after Ford America sold the castings and Ford Australia bought them, from there they were only made in Australia.   The last year of the 302W was 2002, as found in the 2002 AU Ford Falcon XR8, not the 2001 Ford Explorer as most American car pages will quote.