To answer your question about which is cheaper.... come on. Do you really have to ask? You'll spend WAY less than half as much to put a 5.0 reliably in the 11's than you will to put ANY honda there.
Originally Posted by jaje
ignore your buddy and go to autox or do some track events...your car can outhandle that overweight 20 year old platform any day of the week and with track racing you will always be in the upper rpms and the appropriate powerband for your engine
If you really want to keep the honda... scratch the 'track events' off that list unless you like getting severly owned. You'll do ok in an autocross (if you have an upgraded suspension), but that is only if you are a decent driver.