If I spent the money for "059" 58cc Vortec heads and intake for my 305, it would make 300 emission legal HP, not sure what the MPG would be though. Of course a 180 HP 305 with 9.5 CR will respond to mods better than a 8.5 CR LO 305. Many, but not all factory SBCs have lower CR than LS1s, higher the CR the more efficient and powerful the motor will be but costs more to set up that way. A 76 350 block is going to be poorer made than a 80s SBC block, even a 80s 305 block. No matter what, a good engine isn't going to be cheap regardless of brand or type.
As for LS swaps being legal, that can get tricky. For a LS swap to be completely legal, it must have every piece of OBD2 low emission gear swapped over from the donor car. Such as having a OBD2 port installed under your dash and wiring your service engine soon light with the LS's management system, having all the cats, and the more complex EVAP system, nothing deleted. Carb LS swaps into a G body are illegal since they disable most of the LS's emissions systems, a big no no.
I agree with most of that, to me using an LS style motor then switching over to a carb setup almost defeats the purpose, as I stated above GM didn't reinvent the engine with the LS series, it is still a crank 8 rods and 8 pistons, the actual bore/stroke combos in all the LS motors can be reproduced almost exactly in a SBC setup. If you look at both motors apart they are very similar, take away the equal separation of the intake runners and the coolant divorced intake and they are almost identical. Neither of these items have been proven to make more power, and like I stated above the setup to fire the coil packs alone could rebuild a mild SBC. If you decide to use an LS in stock form, they can be bought cheap, good thing because the fuel injection, electronics, motor mounts, headers, and pulley set ups will set you back a lot of money. These motors do not have enough advantages to me to justify the added cost over a standard SBC motor, yet. Like I said if the price on parts continue to come down they will replace the SBC in time but they have not yet. Also from the above quote, how do you foresee raising the compression on a motor costing more money? A properly built motor will be zero decked off the crank centerline, and the heads true cut off the valve guide, so if you wanted to remove another say .045 to raise the comp. ratio it wouldn't cost more, if you were not machining the block or heads a simple thinner head gasket would work, also same money. Compression ratio and smooth runner tracks have been proven time and time again to be the two easiest and cheapest ways to make more power and better efficiency
As for LS swaps being legal, that can get tricky. For a LS swap to be completely legal, it must have every piece of OBD2 low emission gear swapped over from the donor car. Such as having a OBD2 port installed under your dash and wiring your service engine soon light with the LS's management system, having all the cats, and the more complex EVAP system, nothing deleted. Carb LS swaps into a G body are illegal since they disable most of the LS's emissions systems, a big no no.
I agree with most of that, to me using an LS style motor then switching over to a carb setup almost defeats the purpose, as I stated above GM didn't reinvent the engine with the LS series, it is still a crank 8 rods and 8 pistons, the actual bore/stroke combos in all the LS motors can be reproduced almost exactly in a SBC setup. If you look at both motors apart they are very similar, take away the equal separation of the intake runners and the coolant divorced intake and they are almost identical. Neither of these items have been proven to make more power, and like I stated above the setup to fire the coil packs alone could rebuild a mild SBC. If you decide to use an LS in stock form, they can be bought cheap, good thing because the fuel injection, electronics, motor mounts, headers, and pulley set ups will set you back a lot of money. These motors do not have enough advantages to me to justify the added cost over a standard SBC motor, yet. Like I said if the price on parts continue to come down they will replace the SBC in time but they have not yet. Also from the above quote, how do you foresee raising the compression on a motor costing more money? A properly built motor will be zero decked off the crank centerline, and the heads true cut off the valve guide, so if you wanted to remove another say .045 to raise the comp. ratio it wouldn't cost more, if you were not machining the block or heads a simple thinner head gasket would work, also same money. Compression ratio and smooth runner tracks have been proven time and time again to be the two easiest and cheapest ways to make more power and better efficiency