I'm hearing multiple personalities outta Tims girlfriend,
it's OK I was married to one with at least 4 at one time (personalities that is).
The M60 4 litre is a viable option as long as you get the doner car with it to change out the computers and brake unit over to the V8 one. (simple stuff with the right attitude)
You will also need a heavier duty rear differential as the smaller 6cyl and 3 litre units are made for Tonka and not Caterpiller which that added HP will need. Think conversion here with the brackets etc.
Also think about the transmission in this conversion.
I think it is possible with a lower priced doner car and the amount of time that it will take. However I also think it would be more economically sound to dump that money and effort into the doner car and mod that up a bit, sell the old POS and be on your ways.
I cant vote...theres not this option in the poll.
95 E34 530I V2.37
===========
Those who make peaceful revolution impossible will make violent revolution inevitable.
John F. Kennedy