85 Limited LC2 or 455

That is fantastic news! What are the plans? Personally, if the motor is healthy I would put in a cam suited for stock motors, get some better rockers and adjustable push rods, maybe some headers, Edelbrock B4B intake, and try to score a '71 455 Q Jet. Oh, and a good distributor.

The guy I bought it from said the motor had a slight knock and he swapped it out for a customer who wanted a 455 in his GS. He seemed to very honest and based on the casting #s the motor is just what he said it was. Except for the rebuilt your suggestions are very close to what I had planned to do with it.
 
Sounds like my 430. It had a spun bearing due to low oil pressure after I did a monster burnout. Then I had it rebuilt.

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