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I doubt rego would be an issue with either.
Advantage of the LS7 also is that they have been around a while so there is lots of info around on them, bolt on bits and pieces will be cheaper and more readily available, also there are probably a lot of interchangeable parts with the LS2 and LS3 so i imagine things like water pumps, starter motors etc would be cheaper and easier to get.
Im not 100% sure on cost, but i think the LS7 will be nearly twice the price so you could have a very serious modified coyote for the same price. Wasnt someone saying the coyote was US$6k? When i bought my LS3 a couple of months ago the LS7 was around $20k (i paid $7950 for the LS3). Probably the LS3 or LS2 is a more realistic comparison than LS7.
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