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Also, going LS means none of the factory brackets, exhaust, shrouding, and related stuff will properly fit.
With the 383, you "only" change the guts of the engine, basically.
And, I agree a properly build 383 will get you to 500+ hp for the lowest cost, most likely.
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.