I stewed over this very dilemma myself... since I had to replace a poorly built 383 stroker -- and have a LS6 laying around unused...
So here's my thoughts = that I had with myself:
LS motors just don't belong in '32 Fords. It's just all wrong... even though they're great motors.
A simple small block chevy is worth just about ZERO - trade in or otherwise... so forget recovering any money from the "current" motor.
A cam change -- and the addition of the super simple FAST EZ EFI and for $1500 bucks you're golden. Have a nice running little motor.... and EFI to boot!
You'll spend FAR FAR more than that on headers - and exhaust changes - and the radiator hose placement is different - and the accessory drive system won't fit the nose of your '32 and on and on and on. So while the actual motor might be "cheap" -- it won't be a cheap swap.
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