There is some good aftermarket dry sump setups for the LS series motors. This setup from ARE is what the Motec Daytona Coupes run. Probably a better system than the LS7 setup.
ARE Dry Sump
They can be setup with an external scavenge pump with 1,2,3 or 4 scavenging feeds/stages to pull
oil from the sump and one pressure pump to feed the motor.
The Daytonas use the external scavenge pump and retain the stock factory gyrotor pressure pump. This is probably the ideal setup for the street/track.
Cheers