I already expressed myself about how I feel about a LS engine swap into a C4. This poor guy got to be in over $30,000 already into this project. Labor charges got to be killing his wallet.
Erod ls3 - Corvette Forum
A great C5 Z06 will cost you about that or less. A low mileage mint 2004 CE Z06 sold for $29,000 not long ago in orange county, and the seller made 3,000 on commission. Find one of those babies on auto trader or ebay, and you may get it out for $25K or less.