I agree with most of what V8 Coopman had to say, except I think it isn't all that easy to build a close ratio T5 for under a grand - including the necessary S10 rear section. I don't think I could actually do it (with me doing the work).
Most T5's come with a wide ratio gear set where 1st is practically useless . . . and the standard overdrive ratio is pretty steep (somewhere around .68 to .72 if I remember). I've modified them to put a .82 OD in, but there goes a couple hundred bucks on top of everything else. If you want to buy a close-ratio gear set, it is another $500+ . . . then you have to buy a rebuild kit, new synchros, etc - and do the work. (There goes probably another $150 or so in parts).
My guess is that for an average guy to buy all the stuff to build a close-ratio T5, with a .82 OD, S10 rear housing . . . they're probably going to be well over $1500 - AND, they better know how to rebuild it (and most guys I know are not skilled in transmission rebuilds).
When you start adding it all up (including your time and rebuilding work), buying a new TKX isn't a huge amount of money above that . . .
Okay, just another Flathead Wacko's opinion - which is worth exactly what it cost to read it.
