Do you like having a high compression motor, the way it raps really quick, the torque, and instant response? What if you did not have to change that? What if the car could run cooler too?
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E85
100+ octane
Most major concern is availability.
http://e85vehicles.com/e85-illinois.htmSecond is the conversion. Here is a place that sells kits and carbs
http://www.e85carbs.com/here is a link to a article detailing a conversion
http://www.chevyhiperformance.com/techarticles/0808chp_holley_750_e85_conversion_kit/index.htmlAnd here is a forum for your questions
http://www.e85forum.com/forum-1.htmlHopefully the changeover will be cheaper than rebuilding the 360.
Good luck eitherway.
I'd love to do the conversion myself but there are only two stations in my area and they are over a hours drive from the house.