I think the LS stuff is cool and if you are wanting wow factor then that is one thing, but there is no way in the world that you will get bang for the buck out of that. I built a KRE headed, hyd roller 461 that makes over 550 hp for 6k starting with nothing. It also has over 600 ft lbs of torque. Try to get that with a 6.2. I also have driven it thousands of miles and it run cool in traffic and gets 18 mpg with a 5 speed.
You need to look at b-mans thread about putting an LS1 in a 64 Tempest. You are in for a heck of a project to get that in there and all hooked up. I would say on top of that 12k for the motor, your going to need another 1k for power steering and AC, then you will need different clutch and hydraulic throwout because none of you stock stuff will work. Thats another 1k, or you will need an automatic which will need work to handle the power. Thats also probably 1k. Custom driveshaft, 2-4 hundred. All the mounts and headers, exhaust work etc.
I would say it would be hard to get it done for less that 15k if you did it all yourself and ended up with 450 rwhp and less torque that the 461/462.
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