According to the article the weight penalty of the LS1 over the Ly is 20Kg. I assume that they are including the weight of the radiator and coolant, etc, in that comparison.
The LS1 is not run at anywhere near its maximum which is 350 hp at 5400 RPM. When installed WOT is 280 hp at 4500 RPM. The agreement between CASA and the owners Pawnee for the original Ford V6 implementation was 1000 hours. I don't know if that carries forward for the LS1 but, even if it does, the cost of the latter makes it very much cheaper than the Ly at 2000 hours. Of course the real life of an Ly is closer to 1000 hours than 2000 hours.