The bad rap behind the LT1 (late 90s) engine is kind of tragic really. It is essentially the BEST “Gen1” SBC ever produced by GM. But the small production years, and lack of aftermarket parts, plus the electronic governing devices make it an awful choice for performance. Atleast if you don’t have an unlimited budget.
The LT1 brought us things like Vortec heads, and reverse flow cooling where its not uncommon to run 11.5:1 compression on the street. But the OBDI is not friendly to use. The spark plugs are awful to change. The aftermarket support is not great.
If someone was selling a 11:1 compression LT1 with Holley HSR and/or some kind of boost device, for less than $2000, turnkey, with receipts of work, id be all over that. Its just performance for the dollar.
Not gonna say anything about the LS1, I'm sure enough other people will. It comes down to goals vs budget in the end. Just like every single one of these threads.