The point is that you really can't build a new engine using all new parts for any less than that. Sure, you can buy a core off of craigslist for $500 and put $5000 into it and have roughly the same power, but that isn't the same deal.

That 427 we did last year was all new parts and it was $18,000 out the door. It was a really good engine, but it wasn't Pro Stock type parts. It used a K1 and JE rotating assembly, CNC ported Edelbrock heads, roller cam, good valvetrain parts, Victor intake, Holley carb, etc.