I came very close to doing this. I thought it would be fun to build the engine and everything but decided against it pretty quick..why? because of the lack of manual transmissions. Almost every trans that fits these blocks are those god awful 4 speed slushboxes. There was two manual trans that i found, one seemed suitable but was impossible to find an the other was a truck transmission that probably shifted like a tractor..
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why dont i see more small block swaps?
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I'm sure you could pull off a old gen SBC, but it would take a lot of figuring out since it's not nearly as well documented. One big issue I can think of is the oil pump - it mounts in the rear of the block. Not sure if you'd have clearance issues since we need front sumps.
Here's the major determining factor:
to make a decent amount of power on most oldschool domestic v8's you need a HCI setup. A decent head setup is gonna set you back $1500 (I'm accounting for roller rockers too because why not) and a good cam is gonna run you $250-300.
You can get a fully accessorized 5.3 for like, $600. You'll need to figure out the oil pan, get a LS water pump and a different intake (carb or LS) BUT they come with kickass heads from the factory. Add in a $250-300 cam + $300 for roller rockers + a good set of valve springs + fuel and you're rocking 400+ wheel, torque and horepower.
Also, if you're feeling extra spendy, the 5.3 can be bored out to a 5.7. It's crazy and hard to believe, but yes they were made to be able to remove .1" from the cylinder walls
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