Don't get me wrong, the LS are great engines, I'd love a 7.0 LS with an aluminum block in a 67 Nova.
And cost/cost you might be right.
I haven't priced many parts for an LS because I don't have one yet. And they do come with nice AL 15 deg heads and roller cams from the factory. And the small block has always been good for hp/dollar, and the new LS small blocks take that to a whole new level. But as far as all out power goes, the big block will always be king, size matters, and it keeps changing just like SB does, just not from the factory any more. Just go to the dragstrip and see. Look at pro stock running in the 6s naturally aspirated, those aren't LS engines. Then there is pro mod with blowers, nitrous, etc. Those aren't small blocks either. Then go to street legal class racing, Larry Larsons 67 Nova with a twin turbo big block runs in the 6s and then he drives it home. Probably making around 2800 hp reliably. Now, these aren't cheap, but neither is a twin turbo LS engine.
But, if you start with a bone stock 454 and a bone stock 6.0, the 6.0 might be cheaper because it already has good heads and roller lifters, so with a simple cam and intake swap, and some headers and it would be making decent power. A big block with a cam and intake swap might be limited by the heads, and heads are expensive, but a simple port job can fix that. Start adding the cost of EFI though and the new engine already has it. But tuning or tuning software isn't cheap either for the LS.
The real benefit of the big block though, is when you make it bigger on the inside! 540 or 555 still uses a short deck block. Then the 6.0 has a
serious handicap when its up against an 8.9. Go with a .400 tall deck and now you can make a 572 or even bigger. A 6.0 has nothing on a 9.4L. hee hee