that one looks almost in too good of shape to cut up for a V8 conversion
That said, go mid-engine mount and use a simple LS1 with 915 Porsche transaxle and you will have a blast of a car... unless you have money to burn then tube chassis the rear with a cage and front tie points, run a hot-rodded LSx with 500+ HP but you have to go 930 trans (which I just sold my old one today) or really expect to pony up the $$ for a Mendy - trust me, I know
I have 525HP when I lived closer to sea level and my 914 is an absolute freakin' rocket and there was a guy with a blown V8 corvair that was rather rough in execution frankly but really pulled out of the corners.
I can tell you the stock chassis of that 'vair is just as wiggly-piggly as my 914 was and out of a corner, on slicks and on throttle I had good grip and power to ground, I could literally feel the chassis wind up on it and that is why I am tube chassis front to rear now. That and the 160+ mph front stretch speeds the car would reach at Willow Springs in SoCal.
This was my car a couple years back
