Having a 409, I can tell you that parts are usually more than the Mark IV BBc's. I have a 1961 Pontiac for sale here. It has a genie 409 block and 690 425Hp heads. Those 2 things alone usually go for $2500.00 block and $2500.00 heads. Some the Impala guys are really casting date critical and that too affects the value. 409 are neat pieces and people like seeing them and it always draws a crowd. Mine is quite a bit more powerful than the 425Hp though.

I've had some bites at my car, but nothing solid yet.

This is awesome info Guys. Much appreciated. :)

Would this car be rare and "valuable" with original drivetrain?

If it was the high performance 409/400 HP with a 4 speed - yes - to a point. Again you are talking in the $45K to $55K range.

This is what the car would look like as far as color: Cypress Green Met.

https://s26.postimg.org/ygpi5i2wp/image.jpg

IMO - The only real valuable 1965 409 Chevy would be the 400HP/4 speed in an Impala SS convertible with lots of options. Then you can get into the $75K and up range. The real money is with the L78 396/425 HP cars. They can easily command 6 figures.

https://s26.postimg.org/nh8w7n1vd/image.jpg

Color can also affect the value of a 1965 Chevy. This one is in a 1965 only color called Evening Orchid and is more valuable than all other colors because of it's one year only use.

The car above is a 409/4 speed full restored Impala SS loaded with options including A/C in EO color. It sold in May of 2014 for $70,000

'65s are in a league of their own and only the 400hp with 4-spd options would add considerable value. The 340hp with a P/G will add a little valve over a 300hp small block, but not a lot. Those funny shaped valve covers always add an interest and nostalgia factor. Think of it as the difference between a 325hp 396 and an L-78.
The car in question would be very much underwater after a good restoration, especially with a replacement engine.

As for valves that were stated, an original good block is worth much more than $2500. but the value of the hi-perf heads has taken a dive. It's easy to find a good pair for $1500. or less. There are a lot more people in the hobby today who prefer to hot rod them rather than restore them and they go with the Edelbrock heads.

Verne