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The entire wiring harness, the ECM, the exhaust system, the coolant system, the A/C system (if you choose to retain it)...it's a major project to do it, but it's been done. If you were going to do it, you might as well go all the way and put an LT4 in the car.
You have to swap the engine wiring and A/C I am in the middle of puting a LT1 in my 84 I had the ECM reprogramed for emission delete and VATS by-pass as well as having it programed for no Tranny controls and a LT4 Hot Cam. I bought a kit a while back for my 700R so it does not need a CPU for TC lock up. You will need the Assy. Bracket from a corvette LT1 the F-body bracets will Hit the frame. As far as cost efectivness it just depends on the deal you get I got My LT1 (only 23,000 miles) with ECM, Wiring and Tranny for $1200 sold the Tranny for $500 and sold my L83 for $1000 got the corvette braket for $50 and the A/C stuff for $150. so I was still a couple of hundred bucks up when all was said and done. I decided to go ahead and rebuild it and install a LT4 hot cam and springs before I put it in the car the block is at the machine shop now being honed and cleaned. I also got corvette LT1 exhaust manifolds I will be out of pocket about $1000 not to bad considering I will have a 95 LT1 with 0 miles.
What is your objective? If it is horsepower, then forget the LT-1, you can make a ton of power with the L-98 block and heads. If you love to tinker, then get a LT-1 manifold and modify it to fit your engine.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.