Depends on what you do with the bottom end. Since I'd just blown up a perfectly fine thick-rod squirter motor ('93 940T motor) I was in the mood for something a little stronger.

Probably leaving stuff out left and right.

$400 for a '94 B230FT junkyard parts motor (they're cheaper in Volvo-rich environments)

$1000 for H-beam rods and forged pistons

$600 or so in machine shop work - boring the block, checking and polishing the crank (240K mile j/y/ motor, went to first oversize), grinding valve reliefs in the pistons (had a B234F piston for a pattern), assembly of the rod and mains.

$100 at the PnP for the 16V head (if you don't find it at the junkyard yourself, plan on spending $200 - $400 on it from someone else). Replaced all the valve stem seals fromt he seal kit, otherwise, left it alone

$100 - Cometic MLS HG (had the deck heigth measured at the MS, bought the HG thickness to get .032 clearance)

$100 various other gaskets - B234 head set, B230FT block set. Avoid Scantech/Goetze crap gaskets, demand OEM quality. I've had to replace all the front seals so far...

$100 or so for the timing belt kit from Josh - plate, idler, tensioner, and 850 timing belt, all normal Volvo parts other than the plate.

$80(?) for the intake manifold adapter plate. Might have been better off trying to make the B234 intake manifodl fit. There's a lot less room in a 240 for it though. Using the adapter plate (and I spent several hours grinding at it, the head, and the manifold to smooth the transition from round 8V runner to oval 16V port) and the 8V intake manifold made it a little better, but I still had to hack on a shorter 850 throttle body ($25 from the PnP).

$150 for an oil pump.

$300 for a log manifold kit (JGSTurbo.com). Probably a better idea to either use one of Josh's adapter plates and a B230 turbo manifold (ported 90+) or spend $3, 400 more and get a 'real' tubular manifold. I have no doubts that this is choking my engine somewhat.

$600 for a Chinese knockoff of a GT3076R turbo. Ball bearing for better spool. Iffy Chinese build quality. half the price of the real thing. This and the log manifold were done at the tail end of a long project when I was just trying to get it done and not break the bank too much more.

$300 for a set of 1000CC injectors - this lets me (potentially) make 400HP on E85, should I ever get the other bottlenecks sorted.

$300 for adjustable timing gears. Nice to have, far from a nceccessity.

The car already had Megasquirt on it, so no worries about what fuel or ignition comuters to use. Already had a Mustang T5 trans as well, no worries about the new motor chewing up a Volvo trans and spitting it out.

As already mentioned, that probably leaves out hundreds of dollar sin other random stuff. Like the intercooler couplers, tubes, and clamps I just remembered.

Took it to the track last month and with a soft launch it did a 13.8@104 mph. Last year, very shortly before it randomly (heh) threw a rod, I got a 13.8@100 mph with the 8V motor, but that was at around 25 psi boost. Obviously trying a little too hard, it apparently bent a couple of rods. The run last month was at 'only' 14 psi. So it can beat stock 'normal' V8 Mustangs and Camaros, and hang with stock Cobras and SS's. Assuming I can reliably find 3rd gear, which is occasionally a problem.
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'63 PV544 rat rod, '93 Classic #1141 245 (now w/16V turbo)