You can definately make some good power with the LT1. My good friend Dan has a 385 stroker with LE heads and Bret Bauer cam. We took it to Big Shot Dyno in Ohio where it made 440 hp @ the wheels, uncorrected. Here is the link to his thread:

http://web.camaross.com/forums/showthread.php?t=449166

The car is an animal on the street! I don't want to give his specs away, but you could probably contact him about it.

Good luck with the rest of your build!

Yeah they actually can make good power. Mine has a forged bottom end, custom pistons and a ProCharger...should do just fine! :)