In stock form, the trans am's e/t is 13.5 secs. I think that's pretty amazing for a car that's $12k. Wouldn't a k20a(type-s) cost around $5-6k? Plus, I've got to tune the bitch. I think that would still only net me 13s, MAYBE high 12s, but I doubt it. I mean, for the money, isn't the trans-am worth the buy? With some headers, cat-back exhaust, and an intake, it'll probably net me around 50+ extra ponies, so 12s aren't too far away(money and power wise) by going with the Trans-Am.
Oh, and Nevada does have smog, at least in clark county(las vegas). As far as engine swaps are concerned, however, I do not really know the laws. I did tons of searching, but couldn't find laws regarding it.
As far as styling, I like the body. I do like the new Mustang's design, comparatively speaking, but i'm not gonna spend $25k-30k for a car right now. I'm goin to UNLV so that's out of the question. 1 of the things I never liked about f-bodies is their horrible viewing area. The things has crazy blind spots, and a window smaller than my CRX's. Horrible... But I still like the car.
Thanks again for any additional suggestions.