My Volvo ('76 estate) had a HUGE engine bay, putting a V8 in there would have been a cinch. I would have given the chance. I would have done the suspension and tires but done everything possible to make it look stock. Then blown away all the little riced out Hondas.
Alas I never had the funds as a kid and she died at the ripe old age of 24.
A friend and I were into these for a while, test drove a few. A 244 Turbo we drove with a Chevy 350 was slower than the standard 244 - the Chevy V8 actually put out less power. Then we took out a 240 Diesel estate (complete with the diesel badging and single exhaust) with a built Ford 5.0 putting out around 340-350hp. Ultrasleeper....owner said he caught some Vette and Camaro owners by surprise at the lights...