[Tommy]

My primary advice is to keep up the research for a while before you buy anything. For example, a common new-guy mistake is to assume that a 500 HP engine is always better than a 400 HP engine. The problem is that one can build a very high horsepower racing engine optimized to run at 6,000 to 7,000 RPM that is hard to start, idles poorly and difficult to drive around town at cruising speed. The best engine for someone who will do a mix of cruising, drag racing, autocross racing, etc. will need to offer a balance between torque, horsepower and ease of use.

I like the LS6 advice for power and weight, but that is a relatively expensive and complex fuel injected engine that will require additional components (e.g., oxygen sensor, high pressure fuel system, roll-over protection). A simpler carbureted crate engine would be cheaper and likely easier to maintain.

Good luck with your hunt for the right car.