LS or old school?

[xKid4x4s]

hey there guys/gals. I have a 1994 chevy shortbed 2 door truck, and Im taking the TBI engine and trans out, And I wanted to know if I should go with a stock junkyard LS or I already have a re machined new 355 with 2.02 heads from an early 80s truck and the heads came from a camaro.

I was debating an LS styled engine because I want DECENT fuel economy and good power, but I already have the 355 just begging to be put in it. If I did the 355 I would put a FAST EFI system on it, and it would have a 4L80 with Overdrive anyway.

so my real question is, would the 355 with overdrive and efi be able to compete at all with a junyard stock 5.7 LS style engine?

thanks everyone in advance