stroker 460 based BBF 504 inch or so. 550 valve lift 225-230 duration (streetable smooth) 3000 stall (maybe a touch more) 3.25 or 3.5 rear for cruising. Any ported heads will do. Alloys if you can afford em.
just my 0.02
Well done SA pollies (for once). Hoon laws are long overdue to protect car enthusiasts against idiot drivers.
Junk the 390, performance parts for them are few and far between over here.
Bigger is better in my book. Depending on your budget either offset grind a standard 460 crank to 4.3" stroke (514c.i.) or get a scat 9000 series 4.5" cast crank.
If you can afford them the aluminium Edelbrock RPM or Ford Cobra jet heads would be ideal. Single plane manifold, 850 holley, Hydraulic cam around 600-650" lift and 235 duration @0.050", 9.5-10:1 compression, a good electronic ignition, a good set of headers although its easy to run out of room depending what car it is going in, rear gear 3.5:1 with 2000 rpm stall converter.
I would caution using a powerglide in a heavy car. Yes, they can be built bulletproof but expensive. I have a Dedenbear case with transbrake, Vasco planetarys and all the good gear for my drag car and it owes me over $6000 before assembly, pump mods and converter. And thats bringing parts in myself and not paying shipping or duty! I would go for a c6.
The car is a 69 Galaxy ute, already street registered with a BB which takes most of the hassles out of things.
Big headers shouldn't be a problem, there is heaps of room in there!
I'll probably be keeping the 4.11's in the diff but I want some huge tyers sitting under the back so with 28"+ diamiters the effective ratio would be very similar. Only problem there being the need to run crossplys.
I'm prepared to pay the 6-7 thousand for a decent tranny. I'd rather be safe in the knowledge it can handle anything I throw at it, rather than be like most of the people I know at the moment, who are forking over thousands of dollars only to be left with a car that doesn't run and a fist full of their own hair (or their tranny rebuilders!).
Ahh well now its time to start saving. My estimate on the basic cost to build a 545ci monster is somewhere close to $15,000 - $17,000 + trans. SO its not something i'll be doing tomorrow!
It will still cost you about that to build one but you will end up with better components+for that price you will get like dominator carb,MSD dist,h-beam rods,comp solid roller cam etc that doesn't come with the crate motor..
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