Its an LQ4 from a 2003 Silverado, it will be cammed and possibly get new heads (unsure of budget right now) before going in.
As for a welder, I run a couple depending on which project. Most of the bodywork and stuff done here at my house is on a Lincoln wirefeed Mig. Its a convertible 110/220 unit, and I'm running it on 110 (I rent, can't pull a new leg in the garage), with 75/25 Argon in my tank. At our fab shop at work I'll use the giant old behemoth of a welder. I have NO idea what it is, but its the size of a washing machine and painted bright yellow. It works like a freaking charm on the bigger stuff like mounts and stuff.