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I went through a similar decision making process when I was in the market for my replacement engine for my El Camino. It was all how much HP do you want to pay for. As the Elky is my daily driver, a high HP engine was not seriously looked at.
In the end I bought a base 350, brand new not rebuilt, crate engine from GM. The good news for me is small block engines are super cheap. I had a new 350 delivered to my driveway for $1,700. I swapped it into place of the OEM 305 over the long Thanksgiving weekend.
I will answer your question with a question. Is the car to be used for just cruising or do you see you wanting the HP?
How are the brakes? Will they handle the higher HP? What about the transmission and driveshaft? The rear end? More HP to the rest of the drivetrain will cause more problems with all the other components. If your next step is to NEED bigger brakes, how far away is a new rear end, driveshaft and the rest.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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