Hi guys, im a bit torn and in need of expert advice.

My current situation is:
Car: Camaro Iroc -87 TPI 305 th700
Current engine: junkyard -89 2-bolt 350cui TBI block and heads, with the TPI manifold bolted onto it. (the old 305 had an oil pressure failure)
Current transmission: busted 700R4 that wont shift.
Other: Shorty headers mounting up to a single 2.5" full flow exhaust (no cats) and bosh3 24lbs injectors

the engine starts up nicely but its lacking power (prolly making ~200ps)
transmission seems blown.

Im torn wherter i should rebuild the transmission and engine, or just swap it all for a LS1 and 4l60e.

I wanna have a good running car usable for daily driving with decent mpg.
If i rebuilt the old 350 i want it to make atleast as much power as an LS1.
also i wanna get away as cheap as possible.

I never built a performance V8 before, so id need lotsa helps on what parts work good together.
would one of these kits work? http://www.summitracing.com/parts/SUM-SBCKIT1-000/ looks really cheap
was thinking i could get a set of old cheap aluminum vette heads of ebay and a performance camshaft, how much power would they make? is it advisable to also swap the intake and Throttle body? also would my single 2.5" exhaust be a restriction?

basically i want the recepy for a good running 350cui making about 350-400PS on a budget, and also your opinions if its better to just swap in an LS1.

PS. going carb aint an option to me

 

To get an older 350 to make the same power as an LSX motor, you need to push it...it's easily doable, but...you're going to suffer in the MPG catagory. The LSX is an all around better motor, however, it's costly and the mods to install it in our vehicles aren't easy.

For example, for around $4500, including machine work, buying new parts like heads, headers, rotating assembly, you can have a 300hp motor...to the crank mind you. If you have someone else install it, you're looking at another 1700 or so. can it be done cheaper? Sure, just citing my experience and my total for price buying all new parts, and I did the instal myself.

For the same 4500, you can get an LS1 motor, that puts out 350Hp, but doesn't come with the wiring harness, ecm or any of that. The LS1 will get better mpg and has a higher potential (debatable) than the older 350. Check out the forum on Engine swaps to see what's all needed for the swap. I will say, you WILL NOT be disappointed in a 300hp 350, I know I'm not.

 

Thanks for your input, thou ive seen LS1 engines complete with ECM, harness and 4l60e transmission for 2000$ on ebay, i dont wanna spend 4500 on the car and i was thinking if i got an ls1 for 2k i could prolly sell my old junk for 500 cutting the total cost down to 1500.

I just finnished fitting a volvo 230F engine and M47 transmission into my old mazda B1800, and i also own an old vw-beach buggy that i mounted a mazda 12a rotary to the vw tranny.

so swapping a V8 into a car built for a V8 of the same brand doesnt seem like a big deal, from what ive heard even the drive shaft mounths onto the 4l60e making it piece a cake.

But ill rephrase the question, i have an old piece of junk camaro that gets smoked by teens in old 1000$ turbo volvos and old ladies in german station wagons.

Im willing to put down about 1500-2000 on it to get it able to keep up with modern traffic, also the transmission is currently busted. Whats my best option and whats more bang for the buck? ^^

 

go ls1/4l60e and dont look back.

 

That's what I'm going to do as soon as I save enough money for the swap.