Hi Mark...
 
I wouldn't buy the car as an investment cause obviously the original numbers matching motor is long gone. The original thing is kinda a toss up. 4 years ago I had an original 70 Z28 with the LT-1 and a muncie. 45,000 original miles... all original parts... starter, alt, rear, etc. Only thing missing were the original tires. The hiccup was the motor threw a rod 6 months after the original owner bought it. So it had a 71 date coded block with no other numbers casted in it that was put in by GM under warranty. I even had the receipt for that work. Now some guys looked at it and said... it isn't original.... doesn't have the numbers matching motor. Other guys didn't care about the numbers or date codes on the misc parts, but just the engine, tranny, and rear. Then there were a few guys who felt with all the paper work and documentation that the car was darn near one of a kind. I mean there aren't too many no number gm replacement blocks around. The fellow who purchased it felt it was a very interesting twist to make this low mileage Z28 unique. The show circuit... well there are plenty of cars that are totally not stock and modified taking home awards... you just won't be in the category as an orginal stock class.  Sorry for the long winded-ness, but I think this story shows "original" is different for every collector. Some guys want proof that all the metal is even original.
 
All and all... buy the car cause you like it! Awards come for a ton of different classes if that is your goal. If a pure original car is your goal... will just an LS5 spec 454 do... or are you a numbers matching kinda guy.
 
Hope this gives you a bit to chew on... good luck w/ your decision.
Mikey
 
 
So, I found a Chevelle SS that is listed as an LS5.  The original color is
blue.  But, it currently has a 350 and was repainted black.  How would this
car fare at shows?  How would these changes effect the value of this car?
Could you put in an LS5 and would that increase the value or would it matter
because it wouldn't be the original engine?  And is not having the original
color a problem?

Thanks to all for all your help,
Mark

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