I'm kind of curious as to why they went with the engine that they did instead of something based off of Chevrolet's LS engine architecture, but tuned for the unique demands of planes. Seems that they place efficiency as a high standard, and the LS series of engines are pretty efficient in terms of how much power they generate vs how much space the engine takes up.
In order to get the Chevrolet V-8 to work at altitude, you'd need to put a turbocharger on it which would destroy the fuel economy, especially in this application. Also, automotive engines are not designed to withstand the heavy duty cycle that this aircraft requires.