Monaro 2004 VXR - what to do

[v8isgreat]

My old Monaro after 22 years of being used ever day to and from work and having plenty of fun has failed it MOT on emissions .in the last six months it did start to burn a bit more oil then normal , i did see the signs and was just hopping it would past the MOT .
So will not let the car be scraped it a old 2004 VXR with very little rust just needs the body work clear coat look at.
So what is best to do now days ,have the old LS1 rebuilt if so does any have one there would recommend 
or was looking at web site's in the states like the Texas speed 383 motor ,summit racing ,ect
Would like to fitted a new LS3 motor but have been told it's not that easy as the wiring and the cars management system will not be able to run a LS3 
As mine LS1 has 24X Reluctor, and all the new engine come with a 58 reluctor  
Would well come any information on what ever one else has done 

[Lincsls1]

Obviously, the cheapest option here is to have a basic rebuild with only whats required. AAS Newcastle can do such work as can a few other specialists like LSPerformance etc.
As for the LS3 option, cost aside, no reason why this can't be done. And it has been many times in the US. Monkfish even fitted an LS7 back in their day.
You could either have an LS3 built with the 24x reluctor or use a conversion box from such as...

https://www.lingenfelter.com/product/L460065397.ht...

The standard LS1 ECU can run an LS3 no problem once remapped accordingly. The wiring, sure needs some adapting, but its no problem to the pros mentioned above.

There's also the option of just dropping a low mileage LS2 from a scrap Monaro in, but personally, I'd rather just rebuild the LS1, fitted some better heads and a decent small cam, that would deliver well over a standard LS2 and probably cost similar or less. Plus you'd know what you had vs someones unknown 2nd hand unit.
Decisions, nice!