LOL, it doesn't have to be bench racing. How about real racing? This is from this month. It's a pinto that's ALL FORD and NO V8 just a lowly 4cyl. Fuck, it's even carbed!!
8.23 @ 160 http://www.youtube.com/watch?v=3e-kxluQL78
One of my favorite cars is the 1,000 rwhp 2.3 Turbo Fox body that does the Hot Rod power tour. But again how does hp per liter have anything to do with that, I know how hard 4 cylinder cars can run. At the end of the day if your 4 cylinder makes 500 hp and a V8 makes 800 despite how impressive it is for a 4 cylinder to make V8 power. Despite its hp per liter you will still lose.
But we are getting off track here, if the OP can make it work there are benefits to swapping his 4.6 3V for an LS3.