Less work, I agree, but I'm not sure less money.
I don't know about you, but when I get done paying for block machining, a good forged bottom end, oil pan and pump, hydraulic roller valve train, good heads, intake and carb, I'm always at about $6,000 or more in the engine alone. Then add in headers, accessories, etc. and you're looking at another $1,000 plus depending on how fancy you get.
For $7,000 you could probably have a really nice LSx engine in your car - you're just spending the money on different things - LSx pullout with harness, ECU and accessories, probably an accessory bracket or two, maybe an oil pan, fuel tank and fuel line plumbing, adapter motor plates and headers, maybe ECU tuning if you change cams.
The thing is, as compared to the 400, the LSx will take 100 pounds off the front end, have good street manners, deliver good fuel economy, will work well with an overdrive transmission and have a lot of room to grow for additional NA or FI power.