No way, man. Sorry, but if you cut corners and try to do stuff on the cheap you will likely be sorry later down the road. My 347 project is pushing the $8000 mark without a new tranny. That does not include labor, but includes a complete Aeromotive Competition Fuel Kit, a UPR K member, A-arms, coilovers and CC plates, Koni Yellows, Eibach Springs, Tweecer RT, Innovate LM1, King Cobra Clutch, Fidanza aluminum flywheel, blah blah. Thats not even considering all the light fabrication work and small parts and adjustments needed to make things right.
If you choose to use your stock block, the numbers will be similar to this I guess. I would guess your machine work alone would be between $1800- 2500 depending on the shop. Quality parts will run about $1000-1200 for the rotating assembly, and then it needs to be installed, so figure $1000 on the low end. Thats not including shipping, or the tranny cost and labor to put that in. Figure in MAF, injectors, tuning, H/C/I, and your looking at about $9-10k easy I would guess.