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I would keep the 300. 350 Rancher still has drum brakes, full time 4wd, so not really any upgrade.

300 values are all over the map. I picked up a running 4wd machine for $650 a while back for a friend, and I've seen people asking (and getting offers) at $2500 for pristine original bikes.

General rule of thumb around here has been $1000-1200 for a running, used 4wd 300. Not abused, but not in showroom condition either. Minor issues (brakes for sure) expected.

300's are in much more demand that 350's around here.
 
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