If I was in your shoes and was heart set on a power log, I'd start looking for a set of nicely used headers. By the time you buy a downpipe and powerlog and pay for shipping. It'd be about the same price maybe a tad more to just have headers and the gain will be a lot nicer with zero issues on daily driving it. I wouldnt think it'd be much of an issue to run a 3.4 with a good amount of timing or even a 3.3 with 17 to 18*'s of timing. It'd feel a lot better on the butt dyno.
I ran a 3.4 with the basic stuff. Stock Manny's, u-bend was removed, colder t-stat and some autolite's. Later I picked up a zzp 1.0 pcm which just added to the fun. Scaned after every mod and checked for knock, I never seen any. 3.4 days where a while ago. But I'm pretty postive that's what got me into these w-bodys butt hole deep.
Boomer