Another option is to get your LT1 stroked to a 396, get the Ai 212cc CNC'd TFS 21° heads, 24x conversion with LS1 PCM and make 500+ RWHP all day long and have a LS heartbreaker....that would be classic!

It would sound better too!

 

LS1 PCM conversion with the LT1 makes it very usable.

You'd have more torque too...

 

First off I appreciate all the help!! I have decided to go with the supercharger option. I will build a supercharger ready LQ block engine, something like 10:1 compression and in the neighborhood of 400rwhp. Then add the supercharger later.
The reason I decided to go this direction is that it will give me the change to try out a higher HP engine as well as get my car up and running more quickly. Also, I will be able to save up more for the supercharger and I can upgrade all the other components before I get the HP up to ballistic levels.
The budget that I'm looking at would be 4-5k for the engine, using a junkyard LQ. I'm sure there are many ways that I can get to the power that I am looking for, but I would like the engine to be ready for a supercharger without replacing much when the time comes. Since I am not sure if I will use a centrifugal or roots supercharger, would there be different combinations for each?

 

More like different behaviors. The centrifugal will tend to give you more top end, but almost have some lag like a turbo, but not as pronounced. They tend to pick up efficiency as the engine speed increases. The roots will give you tons more on the low end and tend to reach peak efficiency early and then the benefit sort of flattens off.

For the track, I would tend to go centrifugal. If i wanted to preserve lower RPM fuel economy, I would also go centrifugal. For a truck on the street, I would tend to go roots. If wanted all the low end grunt I could get for red light take offs, I would go roots.