it can easily be done, look at layzies build for example or even estovito. their builds werent cheap, but nowhere in the range of what you spend modding an ls1. we also have to apply more to go fast, but eventually it adds up. parts are so common and available at a stupid cheap price, that it can be done very easily.
i guess the only way you would know is to build one, which i have not, but i have researched the shit out of hondas, just for the fact that they are go fast for cheap builds.