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I've been researching a V8 swap. Goals are a fun driver with a couple track days per year. I don't need massive numbers right out the gate.

I found an L33 at a local yard that has 160,XXX miles. It tested 170-175 across all 8 cylinders. No accessories, no harness, no ECU for $935. I haven't been able to find a lot of compression test results for this motor but based on some other ones on car-parts.com it seems low.

What do you think? I'm basically signing up for a refresh and probably a rebuild right? I'm thinking I can talk them down as there are compete motors with 1/4 the mileage for 1K more. What's a fair price for this tired old motor, or should I forget about it entirely?

Rebuild is absolutely necessary. With the proper maintenance, very easy to see 400K plus. However it ended up in the salvage for something. The 5.3 is notorious for piston slap until it warms (just like the 5.4 Ford) They basically use a long stroke for torque but short little pistons to keep efficiency up. The result is a motor that tends to make a little racket before warming to operating temps. This motor will need an entire rebuild most likely. Maybe not a bad deal if you can talk them down a bit. You'll still need at least 1000 worth of wiring, intake, oil pan and accessories.

Yah good call. I've found a few more around the $650 range which makes it feel more reasonable to take on a project. I'd rather avoid a bottom up rebuild at this point though so I'll keep looking.

What about a 97 vette with all accessories, ECU, and harness for $2600?

Edit: 79K and 165-170 on 8 cylinders

I'd be careful with the vette. Make sure it's actully a 97 and not a 96 or else you won't get an LS1. Also it won't have a good donor transmission as they use a rear transaxle.