Since you're starting from scratch and appear to have enough of a budget to afford an LSx engine, go with the LSx engine. It's that much better to deal with overall than a built SBC. To me the simple things like how easy it is to replace parts and to not deal with temperamental gaskets like those found on a SBC are worth it.
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Trey
Current ride: 2001 BMW 540iT soon to be manual swapped.
Former rides: 1979 Trans Am WS6: LT1/T56, Kore 3 C5/6 brakes, BMW 18in rims
00 BMW 540i/6: Suspension, wheels, and ACS bits.
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