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Everyone has a different opinion on this one.
The rebuild you are talking about will be expensive, and in the end result will not be fast by todays standards. For about the same price you could install a 3.6 and have a much faster car.
Also keep in mind your comp. ratio, at 10:1 you are on the verge of needing to twin plug.(more money) the reason for concern is Ethanol. In Michigan they are currently selling 10% and are soon to bump it to 15% Ethanol content. Not good for a high CR engine, or any engine for that matter.
Just as a point of comparison my engine is a 3.2 SS. It is fun to drive and quick, but not FAST.
Good Luck!
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81 Targa, Bamboo Beige, 3.2 SS
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