I did a big block conversion on my 81. Everything fits, though it is a little tight with the headers particularly next to the steering box. I used Headman coated full size (long tube) headers. I also used an aluminum radiator with dual electric fans, and here in Florida, it keeps the engine right at about 200 degrees with the AC running, and in traffic. I used a serpentine belt drive system that was adapted from a chevy V6, (BBshark was a GREAT help on that!) so everything lined up really well.
I'm running a GM Performance intake, you can find low profile intakes, but to get the most out of your engine build, you may find it a challange without going to an intake that's too tall for the stock hood. Using the stock hood has been done before, there's some info on this sight I remember seeing. I went with an L88 style hood for the clearance and because I really like the way it looks.
I decided to run the factory Q-Jet electronic carb (I like Q-jets and decided to use the original set up cause sometimes I'm too stubborn to know better!) and computer controlled HEI. As a side note, it worked really well until a few weeks ago when the carb started really giving me problems, troubleshooting showed the issue to be the ECM, so now I'm waiting for one of those.
I put a 2004r trans behind because I like the gear ratios in that trans better than the 700, but either if built right would be good choice. There are modification for each that would have to be done, the 200 can use the same drive shaft, but needs a different or significantly modified cross memeber, the 700 needs a shorter drive shaft and the cross member needs to be modified too.
I swapped the rear end to an iron unit (the original 81 is aluminum and anyone on this site will tell you it's not if but likely when it'd fail with a big block) and had to change the half shafts, strut rods, mounting brackets and drive shaft.
All in, it's a good conversion, there's a post in the projects section for it (
http://www.vettemod.com/forum/showthread.php?t=4310) but be prepared, it's not cheap! Like my wife said "If you'd been spent that kind of time and money supporting the unwed mothers at the local strip club, we'd really have a problem!!"
Good luck with your project!!