Hey, Don!
The question of crate versus rebuild is always a difficult one. It really depends on what you're planning to do with the car.
If you have a notion of keeping your Corvette original, rebuild is the only way to go... but you need to be careful to protect the signs of originality (ie: the block ID). If you are nervous about doing a rebuild yourself, most towns have a good machine shop who can do the work for you.
If you want to drive it, crate is the way to go. Most vendors offer some form of guarantee and their engine packages are made of parts all designed to work together. Companies like Summit and Jegs put together a good product... or you can go directly to GM and get good streetable crate engines. GM's crates are competitively prices.
As far as a crate engine fitting under the hood, that depends mostly on the induction system you choose. If you put an oversized intake and monster carb, it ain't gonna fit!
Good luck with your choice!
-Mac




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