I waited a long time to begin this thread because I wanted to have some reasonably interesting pictures to start out with, and so that I could update it with semi-regular progress.
I've spent the last few weeks preparing to remove the engine. On a 4th-gen F-body, the engine pretty much has to come out the bottom, and that requires removing a ton of other things, too. So I removed the front sway bar, radiator fans, air filter/MAF, power steering pulley, driveshaft, steering shaft, (non-stock) cats, disconnected the torque arm from the transmission, disconnected the front brake lines at the ABS block, and unplugged many, many electrical connectors.
The LS1 is packed very tightly into the Camaro. So tightly that while it's not theoretically necessary to remove the alternator or starter to drop the engine, I had to remove both just to get to the wiring and disconnect it. By removing the water pump, I was able to wiggle the AC compressor out of the way so that I didn't have to disconnect any of the lines.
My plan was to remove the engine, transmission and K-member all at once. Today, two of my friends came by, but since neither of them had ever worked on one of these cars, we had to make it up as we went along.
Step 1: I bought a motorcycle jack because they're wide and flat, so I figured it could support the K-member/engine and keep it stable as we lowered it to the ground. We simultaneously lowered the transmission with a regular floor jack.
After lowering that stuff halfway, we discovered that GM bolted the wiring harness to each head and the block. You can't see that or get to it until the engine is halfway out of the car, so here's one of my friends attempting to remove those bolts.
Step 2: After lowering the engine/trans/K-member to the ground, The next step was to pick up the whole front of the car with an engine hoist in order to get enough clearance to roll all that stuff out from underneath it. We didn't have enough people to get in-progress shots, but you can probably get the idea from this shot just before we lifted the car.
Step 3: after raising up the jack stands, putting the car's weight on them, and rolling the engine hoist out of the way, we rolled the drivetrain and K-member out on the two jacks.
That probably seems like an insane method and amount of work to get the job done, but this is actually pretty standard procedure for a 4th-gen.
Also, the motorcycle jack worked great. It has a 1,500 pound capacity, so it was plenty for this job. I'd absolutely recommend one for removing transmissions, IRS center sections, etc. No more trying to balance stuff on a standard floor jack for me!
Once done, we just stashed the K-member and suspension under the car. You can see that the shocks/UCAs are still bolted to the car, while the spindles, calipers, rack, PS pump (kept the lines sealed that way) and LCAs are attached to the K-member. Some remove the shocks and UCAs, but to remove the driver's side assembly, you have to remove the master cylinder first. No thanks, as I'd rather not bleed it if I don't have to.