plain and simple whetehr your car handles the 3.5/3.4 with little to no mods depends on a few things...
factory freaks/fucks -aka ya can either get lucky and have a pair of nice mold # 20+ heads, near dead on ring gaps, decent net balance, good even flowing fuel enjectors, etc.
or you end up with #7 and #9 mold heads with shitty core shift, shitty ring fitment, or some rods/pistons at the opposite ends of the net balance specs, and injectors that vary over 5%
this right here is two ends of the spectrum, the vast majority are in the middle somewhere. this is how some stock GP's pull excellent times and other pull crappy times (as i'm sure some old timers can chime in on)
this is also why some cars can run knock free on a 3.4 and hai and others are knock sluts on a 3.8 with a u bend delete.
then you have to factor in maintenance...these cars arent getting any younger, carbon deposits, worn valve seals, more ring blowby, dex sludge, clogged/streaming injectors... all of this can lead to problems.
plain and simple to mod you car safely and RELIABLY it's always best to get a scanner/tuner check for knock and mod from there. much safer.
300$ tuner>1k+ motor.
hell talk to DD, his 99 GS (black spy) has a few mods and it has knock. his other 99 GS (white spy) has an S1X, qwik ported heads/springs/retainers/seals, headers with the stock 3.8, and has no knock at all, even with PE disabled and 3 people in the car with the maf unplugged for VE tuning it had no knock.
guess which car he can beat the piss out of and never have to worry about knock...guess which one is ready to toss on a 3.4 and scann for knock?
every car is different, plain and simple if you scan for knock and mod to eliminate it youll save money in the long run... better to spend the $ on mods than a used longblock.
it's never fun to have "chippy" as yer nickname lol
btw back in the day eric was told by zzp that with a front Plog, ssic, VS cam, and a 3.0 would be safe for his riv, the motor lasted less than 2 months before it chipped/spun #5
after a full rebuild with forged pistons, L32 rods, new seals/gaskets (and apparently a reman crank that later broke into two pieces and destroyed a set of forged pistons and two L32 rods) scanned at 6* of knock.
eric sure as hell wishes he had spent the 400$ on his DHP on day one.
but hey ya might be lucky
at worst ya learn to swap out a longblock
i'm not sayin...i'm just say'n lol