Does your local trade school have an auto shop? If so, see if they will use your car as a paint job project and maybe even suspension.

the worst thing that could happen is they said no.

 

we all started somewhere, what it sounds like people are trying to say is think about your options, its gonna take a lot lot lot longer then what you think it will trust me. and if your doin a rebuild you should learn about performance products out there, and how everything and i mean everything works. i would say if there is a shop near by that is willing to take you under there wing and teach you a thing or two about your motor DO IT!

 

If you are going to do the job, this article will show most of the pitfalls you should be aware of. However; it won't lead you hand by hand through most of teh work.
http://www.malcams.com/legacy/misc/autorebuild.htm

 

So I'm definitely gonna do a rebuild, ill probably do it for senior project and see if a local shop will mentor me. I have 2 issues though, since the motor is locked up will it affect the rebuild if its welded together inside? And I wouldn't be able to yank it out without taking the torque converter with it correct? In which case it would be easier to drop the motor entirely than pull it up?

 

The torque converter is bolted to engine flex plate, just leave it attached to the flex plate and disconnect the transmission. As long as you are going to do a full rebuild it makes no difference if the engine is frozen, but you need to be concerned with a cracked block, as it will be useless. Before doing work on the block get it magnafluxed to make sure it is sound. Everything else can be replaced. I suggest that you let the machine shop decide on how much overbore you need and let them get the new pistons and rings. If you find spun bearings, the connecting rods will have to be reconditioned or replaced. Get a book on rebuilding the Chevy small block, the basic steps also apply to the LT1.

 

how much would it cost to get it bored .030 over? seems like the most common and reliable option. and also how much would the corresponding pistons and rings cost? just ball park the numbers if you can

 

seriously, that depends on where you live. Your best bet is to pick up the phone book and look for an automotive machine shop, then call them. Where I live, the rates are 50% more than from where I moved.