Let me clarify, I went with number 2 setup, however instead of a HV pump I just went with the standard melling pump with the 3/4 pickup tube and the gm white spring. I am using the stock oil pan and windage tray. I spin the car to 7k daily and havent had any real problems. I think I have to broken comp r lifters, but the car is burried in snow so I am waiting until spring to pull the intake. Other than that the engine has been flawless with about 2k miles on it. I drive it daily and spin it to 7k all the time. It runs with my buddies 11 second car all the time and does the job. Once I get some 4.10's and some better tires the car is really going to wake up. I would defiantly suggest this setup to anyone. You can view specs of my car via the link in my signature.

Take care, and listen to krause. =)