If I remember correctly, you're using a manual transmission. I'll try to put together a Gen I motor like I might build for drifting and keeping the cost as low as possible. This will be an externally balanced 383 that should live a long and happy life in a drifting/street environment with the components listed below.
BLOCK: '96-'99 Chevy truck, one-piece rear seal, OEM roller cam, 4-bolt main block (L31 5700 Vortec motor). The 4-bolts will be found in the 3/4 ton and heavier trucks. One of the casting numbers is 10243880. There may be other casting numbers in this engine series as well. All you want from the motor is the block with main caps, roller tappets, dogbones and spider. If you come across a long block or short block and can buy it reasonably (-$300), buy it and sell the stuff you won't be using on ebay or craigslist. A long block would have the L31 Vortec heads on it and they alone can fetch $200. Cut block decks to 9.010" block deck height. The stack of parts to be used will measure 9.008", so 9.010" will leave the piston crown down in the bore by 0.002" at top dead center and with the 0.039" head gasket we'll use, will result in a squish of 0.041".
OIL PAN/PUMP: 6 or 7-quart Road Race pan and windage tray. Call all these guys and tell 'em you're doing an L31 engine swap into a 240 with a 6000 rpm rev limit and ask what they recommend. Although I haven't used products from all these manufacturers, I've used Milodon pumps and pump drive shafts and can recommend them as being top drawer in quality.
http://www.hrpworld.com/index.cfm?tp...ction=category
http://www.milodon.com/oil-pans/road-race-oil-pans.asp
I don't see a Milodon pan for the L31 one-piece seal block, so call them.
http://www.geocities.com/motorcity/flats/1624/
http://www.moroso.com/catalog/catego...?catcode=11955
Write down or record everything these manufacturers have to say. Their tips and advice are GOLDEN.
CRANKSHAFT: Scat 3.750" stroke cast STEEL.
http://www.summitracing.com/parts/SCA-935050L/
RODS: Scat 4340 I-beam with capscrews. Pressed pin. These rods will clear the cam lobes with NO grinding.
http://www.summitracing.com/parts/SCA-25700P/
PISTONS: Keith Black hypereutectic #KB-197. 12cc D-cup.
http://kb-silvolite.com/performance....etails&P_id=94
http://www.summitracing.com/parts/UEM-KB197-030/
HEAD GASKETS: Fel-Pro #1010, 0.039" compressed.
http://www.summitracing.com/parts/FPP-1010/
CAMSHAFT: CompCams hydraulic roller, 1.5 rockers.
http://www.compcams.com/Cam_Specs/Ca...?csid=188&sb=0
HEADS: Edelbrock aluminum #60759. 70cc chambers. Edelbrock shows these heads as having a 185cc intake runner. Summit shows them as having a 170cc runner. I would prefer to believe Edelbrock. Anyway, I used the flow figures from Edelbrock's site.....
0.100 73 61
0.200 140 108
0.300 200 144
0.400 238 163
0.500 244 175
0.600 244 183
INTAKE MANIFOLD: Dual-plane, high-rise such as the Edelbrock Performer RPM or Weiand Stealth.
CARBURETOR: Barry Grant Mighty Sportsman Road Race carb. Annular discharge. 750 CFM. Part #5402020RR. Begin your tuning with #76 primary jets and #82 secondary jets.
HEADERS: Long-tube, equal-length, tuned 1 3/4" primary headers. Chop away whatever you have to in the car to make room for these full-length headers and the Road Race oil pan. No excuses. Shut-up. Remember to leave room at the firewall for the distributor. Plan ahead.
HARMONIC DAMPER: Part #CHE400 from Damper Doctor. Rebuilt.
http://www.damperdoctor.com/Merchant...egory_Code=CHE
FLYWHEEL/CLUTCH: Talk to the tech guys at McLeod about your flywheel and clutch needs for this car.....(externally-balanced flywheel)
http://www.mcleodind.com/contact.html
9.68:1 static compression ratio, dynamic compression ratio 8.4:1
RPM HP TQ
2000 149 392
2500 189 397
3000 243 426
3500 306 459
4000 364 478
4500 415 485
5000 452 474
5500 470 447
6000 457 400
There is a lot of compromise in this build. I wanted to use aluminum heads to lighten the front end of the car, but wanted rather smallish heads to make torque instead of high-rpm horsepower. Used 5.7 rods instead of 6.0 to keep the wrist pin out of the oil ring land. RPM's are limited to 6200 by the hydraulic roller lifters, but that's ok. We'll shift at 6000.
Stirfry, nail down the source and exact cost of all these parts, then call the tech staff at SummitRacing and Jegs. Give them the list and ask if they can come up with a kit price for everything for you. If they think they are going to get all the business, they will be willing to cut some of the prices for you.
COOLING SYSTEM: Almost forgot about cooling. If I were doing this, I would use a radiator or the size of radiator that was originally used by Chevrolet to cool the 350. If I had to cut the core support out of the 240 and weld or bolt in a Chevy core support...Oh, well. I'd use a 7-blade, 18" diameter OEM steel Chevy fan with thermostatically-controlled fan clutch and the proper shroud for the radiator and fan used. Forget about all that weak-suck electric fan and electric water pump crap. Put a cooling system in place that will WORK. Use an aluminum-body, belt-driven water pump of known good quality. (Edelbrock, etc.).