Are you talking the Optispark LT-1 or the way earlier LT-1? Like 1970. If you are talking the late one, the only drawback is the distributor placement. If the water pump leaks, it leaks on the dizzy and screws you at the most inopportune moment possible. The later dizzys have weep holes to let the water out. Whatever you do, run roller cam/lifters in whatever combo you choose. The small block has been around for so stinking long, all the bugs are out of them from an engineering standpoint. They are still a relevant motor IMO