Depending on the engine you start with, it won't save you any money to carb an LS. You can get a stand alone engine management system that will let you run the EFI for similar money to the carb conversion (Megasquirt, anyone?), which is way over $1,000 by the time you do it right. Keeping the EFI also lets you use a lot of stock replacement parts, thus making the car easier to maintain than if you used a lot of specialty hot rod parts.
Also, TURN OFF YOUR CAPS LOCK!!!!!!!!
Also, TURN OFF YOUR CAPS LOCK!!!!!!!!