I have been watching this thread for a while and ave been reluctant to post. On a dollar for dollar comparision I think the LS1 would work out a better option for most people. Now I hate to say that as I love 1uz motors and have a business that gets a large part of its income from 1uz conversions and parts. When costing you need to factor cambelt / waterpump bearings etc for the 1uz, most now require ignition rotors, leads , coils and park plugs. Often now the valve stem seals are getting hard so I often pull the heads and give them a top end tidy up to make sure you dont get annoying puffs of smoke. One great thing about many of the conversions we do is a stock 1uz doesnt produce too much power so the rest of the driveline will handle the motor without an issue. The VVti motors in N/a form make heaps more than the early motors and I beleive one with a set of cams will be up to most peoples requirements but still wont make 300RWkw easily. As soon as you boost a 1uz (early with heavy rods and pistons) you really need an aftermarket ECU, bigger injectors, Bigger clutch and gearbox and lots of tuning time. Supercharging adds alot of stress while the torque is great I'm often disappointed with the power output(often due to the power needed to ran the supercharger). I prefer a 1uz with small turbos and they make great power. John is right that if something goes wrong another motor is cheap which is great.
On the other hand a LS1 is dearing to buy but will make the power with a cam and tuning and the ones we get here the factory ECU is fully tunable with the correct software( not sure about the rest of the world but I think most have retuneable ECU)
The motor will be easier to fit into a torana and most likely there will be a kit avaliable to buy to bolt it in. Both are GM product so I beleive the Torana will retain more value with the GM product.
Other things you will need to price are Sumps , I think the Torana is rear sump so rear LS1 will fit where a rear 1uz will still need a mod , fuel systems (both need this and a cleverly setup intake will feed both , Radiator along with heater hose position , exhaust , clutch options , gearbox options (LS1 has a factory option ) Also check shifter positions , clutch flywheel options (LS1 as factory option)(1uz has plenty avaliable now too) and both are going to need wiring.
In my opinion with everything considered the two options will work out around the same price but the LS1 will be easier with less modifaction and parts to develop. If you want to spend the time and prefer boosted power then the 1uz is the winner.
Remember I am bias and fit 1uz's into everything and am involved in over 100 1uz conversions every year.
Lots for you to think about so grap a piece of paper and start planning like John suggests. Work outyour plan and then try to stick with it.
Cheers