$600 for a running LS1 is well worth it. Not sure if it will be any faster if you spend the same amount on it as the LC2. How do you plan to make the turbo work? Do they make specialty headers for LS1's with turbo capabilities/mounting flanges?
Another thing, you could always just get a n/a Regal for peanuts and stuff that LS1 into, as to not desecrate your LC2 car.
