If you do put in the chevy 350, -paint it the right color, so it won't get too many stupid remarks..
-Do what's right for you, and if it's the original engine, just keep it, and maybe rebuild it over a longer period of time while driving the chevy..-and eventualy put the rebuilt pontiac in if you wanna sell it ..
As long as you enjoy your car, and it drives well, could you be possibly be blamed ??