[PetChemMan]

Yes, that is an interesting idea , although I'm not sure it's a great idea.
I'm an early Olds engine fan, having had cars with the 324 CID engine , the 371 CID engine, and my '62 Starfire with the 394 CID engine with 345 hp.
The early Olds engine was a favorite with hot rodders due to it's overhead valve design, fairly large displacement , and strong construction. A lot of 371 and 394 hot rods were fitted with superchargers for drag racing, and they held up well under the strain. ( Some day, I keep telling myself, I'm going to build a '41 Willys street rod with a blown 394 engine ! Some day. )
In this day and age, however, the early Olds is more nostalgia than a really good choice for a street engine. Keep in mind that the engine is heavy , the horsepower ratings from the 1960s were " gross" ratings and not " net" ratings ( and were more the product of the advertising dept. than the engineering dept.) , and parts are scarce. I wouldn't hestate to recommend a later Olds engine like the 330, 350 , 400, 425, or 455 , but you have to have a good reason for going back to the early block , such as a restoration .
Having said all of that, I have to point out that my '62 394 Starfire will run 16 seconds flat at 89 miles per hour in the quarter mile, which isn't bad for a 4300 lb. car.
I estimate that requires about 285 net horsepower at the flywheel.
Good luck with your project !