Probably not, its hard to beat big power on the cheap with any old school big or small block. The one thing though is, no way those old motors are more reliable or will last remotly as long at that power level. LSX based engines are much stronger... unless he builds on a aftermarket block, but then he would be most likely over budget. One thing for shure, none of those engines make the power of an LS with simple boltons and a cam! To make cammed ls3 power out of a basic stock big block chevy, would take a full performance build!
217/228 .565 cam, th400 swap with 3600 stall, headers, GPI tune, VR intake, Bo white TB.