Not Ranked
The 215 cid alloy engine may have been a consideration at some point. But Shelby always liked Olds, and wanted to use that engine, from the 50's, before the alloy V8. He would have been thinking about this "project" from at least as early as 1959, before the alloy 215 was even available.
I don't think the 215 would have produced enough horse power even with good development. Peppy though it was, just to small to get-r-done. The Ford 221 was quickly abandoned when the 260-289 variants came around.
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