One advantage over the older engines is fuel economy and not just the efi either. The Gen is much better in that department as well. I know quite a few long times Olds guys went LS on this site for that reason alone. One was a carbed conversion and he gained a lot in that department, rest of the drive train stayed the same. They didn't switch to the sbc because it offered no advantage other than cheaper and more numerous parts. My 94 Z71 with a 76 Olds 350, stock 307 heads, A4 intake, 204/214 cam, around 8.5 to 1 compression, factory 454 TBI adapter, shorty Sanderson headers, 307 CCC distributor, timing around 20 degrees advanced, 4L60E and big LT265/75R16 tires would plain beat the similar LS powered trucks idle to 4500 rpm, over that then I lost big time. The LS trucks actually ran a shorter tire and more of a gearing advantage. When I had the 454 TBI and it ran right, sensor and throttle shaft issues, it would plain embrass them off the line. The one place the LS trucks one is fuel mileage buy a good margin. I got 16 at best, at least 4 mpg less. With a custom tune, I could have pulled within a few but then again a similar intake and exhaust improvement on that era of LS truck would have helped mileage and power, keeping the mileage gap.