I just finished getting a Corvair engine built and installed. With motor mount, prop, and all the other stuff including having the engine built by the best professional Corvair Engine builder I know, the cost was somewhere around $15,000. So, it seems to me that taking a chance with a $1500 investment is a very small risk. Also, if you get it torn down and then decide that you don't want to continue on that track, I will bet that the parts could be sold for more than you paid for it. There is something to be said for having standard airplane stuff that is designed to go on an airplane and is compatible with other airplane stuff.
Please don't misconfuse this statement with my level of satisfaction with my engine. Right now, I would not trade it for any other engine because it is the most smooth engine I have ever flown behind. However, if I were at your stage in a project, I would give the Lycoming a shot. My level of expertise on this issue is that I stayed at a Holiday Inn Express last night... See N64KR at http://KRBuilder.org - Then click on the pics See you at the 2012 - KR Gathering in Mt. Vernon, Il MVN 40th Anniversary There is a time for building and it never seems to end. Daniel R. Heath - Lexington, SC