From my experience when I had an LS-V setup in my old EG the best advice I can give you is DONT DO IT. Fucking shit blew up on me even when it was "done right". I even had the oil line to the block. Stay away from that shit.
it varies form person to person and motor to motor, i wouldn't give advise on the ONE bit of experience you have with it. id get a leak down and compression check before you do anything.