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If by first gen you mean original 70s LT1 from the Corvette, they are very strong engines... I'm pretty sure all LT1s are 4 bolt mains, and they make 370hp...
The LT1 had all sorts of goodies like solid lifters and stuff, mechanical advance... the like.
You need an engine that'll get through the winter though, so I'd recommend a 90s LT1, just for the driveability. It's no chore to get as much or more power out of a modern LT1 or LT4, but they'll do it much more pleasantly.
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