Thanks for all the replies.
To clarify, I am 99% certain I will be either buying a new Lycoming or a superior 'Lycloming' engine. I was interested to hear of other options but it sounds like a prop striked engine would be a can of worms best not opened. No matter how cheap it is.
The Lycoming may be a dinosaur but it is proven. If you want an aerobatic fast touring machine with short field capabilities what other options are there?