After magnafluxing, drilling out of the oil passages and other oiling mods, polishing all the casting flash off to a dull polish, adding 4 bolt splayed steel caps, a steel main girdle with a good line hone, a square decking, and the newly developed lifter valley girdle, you can make some serious power on a stock block. Naturally this adds up, but I would personally rather do that than go with a big block. Dont get me wrong. I LOVE big block power, (thats why I got a GN) but when you can get big block power out of a small block which is lighter, gets better mileage, and has almost half the friction and pumping losses...ya know.
If you call a good racing engine shop, they usually know of someone selling a top notch, used race motor for cheap, with the best of everything, that can handle huge power. We had engines like that coming and going all the time....$20-$25k worth of parts and labor, and 1 racing season, yet they would only ask 5k for the complete motor.
If you run a small/big, dual turbo setup, you can get the instant spool of the small turbo, giving it that big block punch, and the big turbo for the top end pull. Oh yeah...my point was that there are some people running 9's with n/a LT1's in camaros, without serious mods. Slap on a couple turbos, and it would be insane. I think an LT1 crate motor with the mods I mentioned plus some AFR heads off ebay, and a couple turbos would more than please the need for speed. Ive been in many big block cars, and the work needed to keep the cars from sliding into a fire hydrant while turning a corner is ridiculous. Weight distribution sucks. Plus weight transfer is alot happier with a small block...and weight transfer is PRETTY important when you make that kind of power.
A big block with turbos is just gunna spin the tires for 6 miles straight. What fun is that? Plus you'll have to refill the tank after that 6 mile burnout.