5.7 Gxi is a good engine, but when you look at the specs between it and the straight 5.7 Gi, the Gi to me is the engine of choice due to cost.
20 HP difference, and you have to remember for the Gxi to gain the 20 HP you have a 200 RPM higher redline of 5200 vs . 5000.
The GXi is a cash cow for Volvo, but to me the Gi would be an excellent choice in the 31pc. Like mentioned above, you do loose the torque of the 496s, but I bet the weight difference between the 5.7s and 8.1s are close to 400 lbs.
I do know Formula will order closed cooled 5.7s from VP for less than 3000.
Also remember with Volvo you won't have the drive lube loss issues like the Bravo 3s