Didn't mean to come across as a jerk, I'm just an aggressive defender of LT cars. I get a little tired of reading how the answer to any car question seems to be 'LS Engine'.
The LT1 cars were rated at 285 hp, and the LS F cars were 305 IIRC. I didn't have much trouble with LS cars back in the day with either of my lightly modded LT Z28s. Also, I didn't find that the LT cars were much less responsive to mods than the LS cars, and if you're going 96/97 vs. 98-02 they were both OBDII cars so the electronics portion would've been basically a draw. The 24x conversion is awfully expensive, but worth every dime. I'm sure if one was frugal, you could find used parts and get it done cheaper.
Depends on what you like I guess. I always enjoyed the raw, old school feel of the LT car. Plus the 98-02 Camaro front end just sucks compared to the LT, IMO. Guess I'm a LT guy.