355 Chevy:
* Advantages: Generally revs higher and offers better horsepower-to-weight ratio, making it a popular choice for high-performance street applications and some racing disciplines (like circle track). Parts are readily available and relatively inexpensive due to its widespread popularity.
* Disadvantages: Produces less torque than the 383 at lower RPMs. May require more careful tuning to extract maximum power.
383 Chevy:
* Advantages: Produces significantly more torque, especially at lower RPMs. This makes it better suited for towing, heavier vehicles, or applications where strong low-end power is crucial. It's a robust engine capable of handling more abuse.
* Disadvantages: Doesn't typically rev as high as a 355, resulting in a lower peak horsepower output. Parts can be slightly more expensive than for a 355, although still readily available.
In short:
* Choose the 355 if: You prioritize high RPM horsepower, lighter weight, and a quicker revving engine for street performance or racing.
* Choose the 383 if: You need more low-end torque for towing, hauling, or a vehicle that's heavier. You prioritize strong pulling power over high RPM horsepower.
Ultimately, the best engine for *you* depends on your specific needs and preferences. Consider what you'll primarily use the engine for, and weigh the pros and cons accordingly.