It's all good. If you go the V8 route, try staying with an all aluminum engine if budget allows it. I'm running a LS1, which is really the baseline of that engine family. If $$$ allow it, the LSx series can be pushed to 600 hp with no additional weight gain (LS7 is at 505 hp completely emissions legal from GM)
the 4 cylinder variants are no pushovers either. I believe most of them are in the mid to high 11's and low 12's in the quarter mile. someone can correct me if I'm wrong. Some of the tricked out 4 bangers, and turbo's are VERY fast. Someone posted one here that was running low 10s. But if that's what you're after, I think V8 is a more practical option because you can still have a very reliable, long lasting engine.