Just for comparison I am building a 427 FE right now. I paid $2800.00 for a used block that could go standard but I opted to pucnch it out to .017 over because I didn't like the clearances I would have to live with. A used billet steel crank turned at .10
/.010 cost about $900.00. Wiseco 12.7 : 1 compression ration aluminium pistons $600.00. Eagle H-Beam Rods are under $700.00, Rings, bearings, etc are another $300.00. Cam $200.00. Machining, balancing, assembly, and run in will set you back another $1200-$2000.00. So there is a short block with no pan or gaskets and you are just under $7000.00.
Heads (Blue Thunder or Edelbrock) with manley valves, Comp matched dual springs figure between $1500-$3000.00 depending on how much you want to clean up the heads. Roller rockers (Sig Erson) another $600.00. Push rods and mechanical lifters another $300.00. Aluminium Intake sidewinder $500.00 and 850 Race Demon Carb $800.00. You are going to need a MSD distributor, coil, wires, and box $575.00. You will surely want a Canton or Aviad
oil pan at $350.00 and probably a blue printed
oil pump at $125.00. Got to have a water pump so how about an Aluminium Edelbrock at $175.00. Valves covers at $200.00 and March pulleys will go for another $250.00 or so. Don't forget gaskets the cost more than Chevies too probably around $200.00 and then there will be miscellaneous other costs such as ARP bolts for your heads and crank then little more here and there. So you add everything up and you have it for $13-15,000.00 and you have more horsepower than most of us can handle at the wheels. As you know prices may vary according to regions of the country. The one thing I know for sure is: If someone has never built an FE before the engine will be only as good as the machinist. Sometimes it doesn't pay to skrimp.
Running an FE is a choice, and for some of us a sacrafice, but it is the Right Thing to Do!
Sorry to be such a smart ARSE but this argument is like comparing apples to oranges. Old tech to new tech. Chevy has kept basically the same engines for almost 50 years. Development on the FE stopped over 30 years ago.
Clois