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Originally Posted by GeoffP
I agree to keep it simple. A 5.3 would be a cool engine and should be relatively low cost to get. Keep it on a budget that the AVERAGE guy can build. Don't cut up the body, floor pan, etc to make stuff fit. See just how good you can get it to handle with the stock frame using available aftermarket add-on's like A-arms, spindles, etc (like several have suggested). I'm not sure that I agree on a $25000 budget. I bet you could build a nice ride out of that car for less than $20,000 if you shop right, buy used when possible, etc.
Just my .02 cents...
GeoffP
68 Camaro LT1/T-56 4.11 (soon to have the FIRST set of 12.19 Wilwood 6 piston brakes) 
87 Camaro IROC-Z LT1/4L60E 3.23
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As for the "budget".. some will argue that it should be $10k to build a car.. some would say $50k.. It's really an individual deal.
I think anything under $30k is a "average joe" budget, especially for a Camaro. The Fairlane it at around $36k right now and most people consider that an realistic build. Also, we are talking about a build using all new parts that can be duplicated and not the "I found this stroker at the swap meet/junkyard for cheap" sort of deal.
Also, I could build the car for $15k but it would look like crud.. I want the car to perform and look cool as well. Something the average guy would be proud to cruise or run at the track.