Excellent questions and I will do my best to answer them. I have researched this for a few years now so a I fairly versed on this topic. The LS series engine is known to hot-rodders all around as they are one tough engine and can hold gobs of power just as they are. You know that saying "well my friend has one?" Well a child hood friend of my builds these things all day. His personal truck held 800hp on a stock engine (stock from intake to oil pan with only supporting fuel mods and trans) that he beat daily before it let go over a previous condition (160K on the clock when he busted it). They also built a early 90's Ford Ranger they swapped with an LS that runs 10 seconds that really didn't cost them that much money. Just a swap, boost and fuel.
I thought about buying an older truck and swapping in a LS but then thought to myself; why give up all the updated features like AC, power steering, power windows, locks, etc when you could buy a tahoe, suburban, 1500 truck etc for about the same price and it has an LS already in it.