As the title says, what are your thoughts on this setup?, I would like to do this to my '88 Notchback by the end of the '05 year. My plan is to put in a 347 forged stroker from either CHP or DSS (most likely put it togeather my self, but just have a shop bore/prep the block.) and top it off with some used GT40P heads and the same intake. The reason i have this set up is for cost issues, i figure for the 347 stroker kit its 1k, used heads/intake(if i get lucky i may find one with them ported) around $600 more or less, 500 or so for machining the block, and around 300 for miscelaneous things. And this can be done for around 2500 which is a reasonable budget, of course this isnt going to be a street terror in it self, but since its going into my '88 LX 5spd Notchback with AC delete(and other weight savings) and the following a pro 5.0 shifter, mac pro chamber/mufflers with alum pulleys and 3:73 gears I figure this should put me well into the 12s with DRs, maybe 11s with tuning and practice. its also got the eibach pro launch springs with airbag and HPM Jr. lowers.
Now I havent done too much reasearch on the difference between GT40 anad GT40P heads, but I feel that for my budget build up they should be good enough if i find the right ones(aka already ported) if anyone could enlighten me on the difference i would appreciate it. If budget allows I may go with a set of aluminum GT40s for weight savings. Basically my goal with this car is to get it into the 11s with a no more than 3k budget on motor alone and then be able to do a SC a year or two later and do 10s. I know i'd have to upgrade my tranny, but the T5 should hold up as long as I dont dump it at high rpms off the line or powershift all the time. by the way this wont be my daily driver, thats my '95 GT's duty. sorry for the long post but your opinions/comments would be greatly appreciated.
Now I havent done too much reasearch on the difference between GT40 anad GT40P heads, but I feel that for my budget build up they should be good enough if i find the right ones(aka already ported) if anyone could enlighten me on the difference i would appreciate it. If budget allows I may go with a set of aluminum GT40s for weight savings. Basically my goal with this car is to get it into the 11s with a no more than 3k budget on motor alone and then be able to do a SC a year or two later and do 10s. I know i'd have to upgrade my tranny, but the T5 should hold up as long as I dont dump it at high rpms off the line or powershift all the time. by the way this wont be my daily driver, thats my '95 GT's duty. sorry for the long post but your opinions/comments would be greatly appreciated.

As far as the low motor life, from what i've read oil consumption was an issue in the early days of the 347 stroker, but has been improved since. not a boost friendly set up?... i dont know how you came to that conclusion either 
I'm not aware of many carb legal cams besides the E303. Lots of cams will pass but they dont have a carb sticker.