LT1?!?!?! That is a lot of weight! I don't know if I would like that. Yeah, tons of grunt but it's a glorified Viper now, huge P to W that you can't stick in a corner. Like you said, balance is EVERYTHING. Oversized throttle body? Cam? (I/H/E? Sorry!)
If you wanted to get crazy, you could put spacers on the front. Why, you might ask? Widen the front track and you eliminate understeer - an old racing go kart trick. Soften up the front bar?
Well the "official" Red Head is the flat 12. My wife calls the 308 the "Beater" Ferrari. I call her Big Red! Most I have done is cam belts and tensioners and a water pump, plugs, oil changes, etc.. Oh, and rear wheel bearings right after I got it. The motor is bulletproof. I've had it over 7 grand many times and it just goes - and there is nothing like the sound of a flat crank at high RPM

The 308/328 motor was the easiest and longest lasting motor they EVER built - and one that even a hack like me could work on. Old Bosch Jetronic injection that can't be any simpler. Tranny is great if you take care of it. Weak syncros and a small clutch. It is so slick if you give it time, its not a yank and grab. Lots of info out there to cross reference cheap parts. The steering is the most unbelievable experience I have EVER had. I can tell when the tires are cold, I can feel the texture and adhesion of the road surface - all through the steering wheel. Just unbelievable. Cost to buy and own is less than a used newer minivan.
Oh, I just saw your question about the camera. It was a cheap point and shoot Canon that I stuck out the roof. If you look close at the yard of bricks pic, you can see my video camera on a tripod between the seats and poking up above the roof. I have it all on video. It's to the point around my house where my kids go, "NOOO!!!! Not the Indy video AGAIN!"

Ha!

Jojokeo is another big motorhead here, I'm surprised he hasnt jumped in!
Jim