97 GT Needs New Engine...Build Up Advice

You guys have given me some great ideas. Since I am actually buying a new car to drive around, i dont really want to spend more than $4K to build up this motor, i just want something quick to drive on weekends during summer months. I will have a daily driver that i am buying in two months. I guess I will stick around the 320hp range since thats more attainable. Question is, can i just keep the 97GT block and get the pistons updated and and whatever else i can update to make it "new and stronger" and just get the PI heads port and polish (stage 3?) and get long tubes and a streetable cam and a good tune? Will that help bring it up to 320hp at least?
 
While you have lowered your power goals, I would still highly suggest going with a power adder instead of NA. While you can make the power going NA, you will never have the mid range torque of a power adder. It's this mid range torque that really makes the car fun to drive and let you walk around an NA car of the same power. Find a simple roots blower setup and you'll love it. :D
 
Keep the boost and power levels reasonable and you won't have to rebuild. Most here say you are safe up to 425rwhp on stock engine internals. That's more power than your 4k budget will allow for.
 
i was thinking of rebuiling, cause i have over 110K miles and i want to make sure i dont put a blower on and the messes up. The engine doesnt feel right, I did get a tuneup. There are no check engine light, it doesnt drive as smooth as it used to.