I recently picked up a nice 120k mile '97 Camaro w/ a Series II 3.8 and 5 speed for $1,000. My build plan.is to cheaply build a car it to handle as good as or better than z28/SS cars and get as close to Lt1 hp(75 crank hp above stock 3.8)as possible, looking stock v6. Installed parts list so far reads
:Slotted/drilled front brake rotors and ceramic pads
:3inch aluminum driveshaft from 98-02 Ls1 car
:K&N drop in filter
:19mm z28 rear sway bar(already a 30mm up front)
:Polyurethane end link and sway bar bushings
Next plans include suspension bolt ons and exhaust mods, have a high flow 3inch car and am looking to buy a nice stainless GMMG catback

 

Sounds like fun,a front shock tower brace and Strano master cylinder brace should be part of the package.
Lowering springs and some high quality shocks of course and some sticky tires.

 

Right now I'm running Falken 245/50/16s on all 4 corners on the factory chrome 5 star wheels. And first big suspension mods I was thinking UMI tubular panhard bar and rear lower control arm set, get all 3 for $150.

 

Getting the 3800 to out preform like a V8 will be tuff. You can turbo it and it will show nice peak power but the V8 is going to have more power down low. Hitting a 13 second 1/4 in a 3800 will be tuff. Also the T-5 has its limitations in a car this heavy. If speed is you real goal then buying a LT1 car with a blown head gasket and repairing that is a MUCH cheaper way to go. 3" exhaust is kind of a waste even at close to 7000 RPM a 3800 does not need that size exhaust. It is truly a waste of money.

After says that I loved my 96 3800 5 speed. (see project 96 in my signature) I had the drive shaft and the 32 mm front swap bar. Some other things you may want to look at.

1998 up brake conversion
Hurst shift
Center Force dual friction clutch
Complete Rear from a Y87 V6 or from a T56 car. (3.42 with Posi)
Quick ratio rack with a rag joint elimination (found on newer 4th gen cars sorry I forget the years)
If the car has the original struts they are junk. KYB gas charged are about as low as you want to go.
Headers, Long tube for the most top end HP. Shorties to 4500 RPMs down power. The factory manifolds are holding you back.


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Main reason for the exhaust is a buddy of nine who I've bought a few F body parts from has a near perfect GMMG Madhammer Stainless catback he's sell me for $200. Thing costs $700+ new and stainless lasts so yeah, convenience, price, and availability is the name of the game lol like I got my 3inch aluminum driveshaft that weighs 11lbs less than my stock one from him for $40, couldn't turn it down so it went in.

 

And header wise, to go with the high flow cat and catback I was thinking mid length Pacesetters or something similar, ground clearance and steerable torque curve

 

At that price I would do the same thing. I bought the OBX header I found on ebay.. They where long tube but at the time they where $285 for stainless. .