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Well it all depends on what you want to do and what your end goal is. Do you want a 300hp engine or a 1000hp engine?
The L-82 is a decent engine with most of the good parts. It's basically a 1970 L-46 with less compression. If you get the heads ported, upgrade the intake manifold and up the compression to 10.0-10.5:1 you'll have a 350-375hp (gross) engine.
Compression was the Killer of ALL cars after 1970. Chevrolets engines went LIMP with no compression .... Bring the COmpression back up to near 11:1 and it will run . The old 350 /350 was a sweet engine. Add a TRUE dual exhaust , NO SMOG or CATALYTIC converter , 3:70 gears and 4 or 5 speed it will still do decent.
Compression is one of the main ingredients . New cars have all the electronic computers to allow compression increases and still run on regular fuels .
Find a set of OLD 350HP 2:02 heads like from 68 -70
Or just call the junk yards like everybody does now days and get an engine out of dead GM VAN or GTO , Votecs and LS2 , and all that stuff.
I'm in the process of taking my engine out, thought about a crate engine, can get different hp for cheap money. If it wasn't for the help of an old friend, I'd be putting in a crate engine. Of course I didn't have the original block. My plan is do what was just mentioned, got new heads and putting in anew cam. But I'm at the mercy of my buddy's ability to rebuild.