is the lo3 short block shitty? if i converted my car to carb and threw a good set of heads on and a stronger cam could i be in 13's territory?

 

By shitty, do you mean small in displacement? Then yes, but other than that their really isn't much bad about it. It's a roller block with flattop pistons. A decent set of heads, a good cam, and either tuning for the TBI or a swap for a carb could put you into the 13's pretty easily....this is all dependent on you upgrading the rest of the drivetrain. You'll most likely need a converter for a cam that's big enough to get you into the 13's, the stock rear end will need at least 3.42's and a posi. You'll then need to deal with getting traction.

Do a search for some of Fast355's creations. He has a knack for making big power out of 305's. He built a TBI'd 305 for his brother than ran bottom 12's in a stripped down camaro.

If I were you I would get the following:

vortec heads (setup for lift)
224/228 roller cam with over .500" lift
Either a low profile single plane, or performer RPM
good headers, full exhaust

You'll make right near 275 at the wheels and with good traction should run high 13's @ ~98 mph. Put those parts on a 350 and you'll run bottm 13's or even breath on the 12's