The 292 is a work truck engine. Very strong. Its virtues are big torque at low RPM, longevity/durability and heat tolerance. It does not turn fast. 4500 -5000 is redline for a stock 292.
The 250 might run faster but I have no experience with them first hand so it would be unfair for me to venture a biased opinion.
292's are a lot of fun. I ran one in my '68 C/10 shortbed stepside with a 4 Bbl Holley, Offy intake, Clifford headers on a .030 bore from '77 to '02. I'm now in the process of finishing a rebuild of the original 292 block and I just picked up an early ('63?) 292 L6 as a parts carcass.
You might ask the 250 vs 292 question at:
www.inliners.org
Hope this helps