3.4 to LT1 conversion

transmission, and a rear axel with drum brakes. I have found an LT1 engine with computer and wiring harness out of a 1994 Trans Am (25th Anniversary Edition) in good running condition that is pretty complete (air conditioner, starter, alternator, etc. all included) for $500. I want to replace the engine and transmission and rear end if necessary in my Firebird to essentially convert it from a base model to a Firebird Formula. My questions: 1) Can this be done and how difficult would it be? 2) Does anyone have a guide or even a list of everything that would need to be changed over to make this conversion work? 3) Does $500 sound like a fair price for a dressed but used LT1 engine with 600K miles?
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