Im all for the aftermarket EFI on Gen1 stuff but, Id agree that a drop in LSx 5.3 w/ headers and cam would probably fall in real.close cost-wise if you did the drop in yourself.
If aftermarket is the way you want to go...the Avenger TBI or wait it out for the Terminator EFI. Both will get you converted with the latest in technology, basic self learn and optional full laptop programming. Either can support LSx, CnP, MPFI later down the road.
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Dennis
Moore Racecraft
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