I say forget engines, since your planning to yank the 305. Decide which body style you like better and what your goals are.
If you plan to mod the car the LT1 "might" be the better deal. More solid frame/body, and I think more tuning options. Plus the plastic bodies don't rust!
Without seeing the cars, I'll just make a general statement:
The TPI car might be less cumbersome and cheaper to work on, but with 21 years of use and 160K you're probably looking at sagging doors, body flexing and god knows what else? The car may not be a bargin once you start ripping into it and you don't want a money pit.
And as already said; Opti's aren't bad to chance once you've done it once.
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93Z M6 Black: The 385 Lives! Supercharged, 3-core front mount intercooler, GTP heads, 3:73's, Street twin clutch, Jethot Longtubes, Mufflex 4" catback/spintech, S+W cage, Spohn Suspenion, Yada Yada Yada
1) Build it
2) Race it
3) Break it
4) Repeat!!!
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