Thanks for the advice guys. Seems like the LS is well recommended around here. I would want to stay carbureted if I went with the LS motor. What makes the LS so much more efficient?

I'll have to live with the gen I for a couple years though, so I suppose it's best to avoid spending too much on it and simply install a cam and manifold and clean up the heads a bit. I was hoping to get some advice within these constraints.