the big question is, do YOU WANT an '88 Corvette? The idea that you are "going to piss off the chevy guys" is probably going to leave you pretty disappointed, the whole "ford motor in a corvette" thing is as old as the hills, and the tiny minority that are stupid enough to be pissed off by an FE in a corvette are also stupid enough that most of them probably wont recognize an FE anyway.
I think theres MUCH more satisfaction in building a car to make YOU happy, rather then to "piss off", or impress for that matter, a virtually non-existent "them". If an FE in an eighties Corvette is something you really want for its intrinsic value (FE powered car that has a low drag coefficient and handles well?), then by all means, have at it. Otherwise, it sounds like a colossal waste of time and resources.