Truck/ Engine decisions decisions- LT1 vs LS

[63whoopie]

Hey Y'all-
I'm one of those people who reads alot more than I post because I haven't had the time or money to work on my '63 for a year or more. Well, there's a good chance that's about to change. I am doing some shifting of what I own (currently 3 half or not running antique cars/trucks and 2 work/everyday trucks). I'm tired of making 2 payments on work trucks that only continually depreciate, so I'm thinking of selling 2 and buying a different truck to meet my work needs. The only problem is that I don't want to drive back and forth to school and around town all the time in a 3500 4x4 diesel. As such, I have been thinking of selling the F150 I use daily and using my '63 as my personal vehicle (It's already paid for, will get my around, is easy to work on, and has a high "cool" factor).

So, this brings me to the question: my truck has a inline 250 w/ a 3 speed. I am planning on dropping it, adding disc brakes, and maybe A/C. I really want to add a modern, fuel-injected engine and keep a manual transmission. So, I have been looking for a T56 transmission to put behind the 6.0 LS block I picked up. Only problem is I don't have the funds to build it and stroke it out like I'd like to. Anyway, in my serch, I found a LT1 hooked to its origional T56 transmission with ECU, wiring harnesses, sensors, accessories, brackets, wiring, etc. all attached. Engine is supposedly 56,000 miles from a 1997 Camaro and was going into a old car before the owner ran out of funds. He has documentation to confirm everything, he says.

My question is this: I know the LS engines are great, totally new architecture, easy power to budget ratio, etc. I know this, this is why I bought a block. But the LT1 engine is $1,200 and really looks like it'd be a good deal. My only reservation is am I going backward in technology by using an LT1? Its a pretty simple installation and the engine is complete (engine mounts, transmission support, driveshaft, etc). I'm a college student and have started my own lawn care business, so I don't really have much money to spend. What do y'all think? Thanks for the advice in advance.