As we all know, nowadays everybody is all about "LS this" and "LS that." The Ford Windsor is significantly more compact than the SBC, which is the primary reason why I chose it. The downside--which all the LS fanbois will immediately point out--is that the EFI 5.0 was rated at only 225 HP compared to a stock LS1 being 325-350 HP. I put some thought into that. In my mind, the single biggest reason why the LS1 makes such good power is due to the awesome cylinder heads--by comparison, the stock Ford E7TE heads suck.
The follow-up question nobody seemed to ask, however, was this: what if you put better heads on the Windsor? It didn't take long to find some dyno tests of heads such as the AFR 165s. With only the head swap plus an upgrade from 1.6 to 1.7 rocker arms, a stock Mustang 302 (with no accessories attached) would crank out 400 HP on an engine dyno. Even with a belt-driven water pump and alternator adding a little drag, 350 HP at the crank should still be very achievable.
In my story above, I mentioned how I upgraded my camshaft out of necessity. This means I will stick with stock rocker arms. But when I eventually upgrade the heads, I should end up with LS1 power but in a more compact package.
I guess what I'm saying is, a smaller engine can make this an easier project. I think you should do it.