GM and Chevrolet would produce both small block and big block engines for use in their passenger vehicles and truck for years, with the final year for the old generation small block in a production vehicle being 2003 and the final generation of big blocks being discontinued in 2009 respectively.
Both engine families can still be purchased through the GM crate program, though they have both been superseded by the LS and now LT family of modern Chevy small block V8s in production vehicles.
In the modern era, GM has moved towards utilizing various displacement small block offerings in their lineup known as the LS family. Modern materials and technologies have allowed for the small block architecture to achieve displacement and power figures much the same as the older big block platform, rendering them obsolete, except to the vintage purist or the hot rodder looking for a certain experience from their Chevy V8. The LS series is compact, generally lightweight, and capable of a ton of power.
Both types of Chevy V8 have been prolific among hot rodders, streetcar builders, and drag racers throughout the years. Essentially it comes down to both personal preferences as well as the intended purpose of the vehicle. However, the LS series engines, first introduced in 1997, have seen a rise in popularity among hobbyists as they have become more affordable and increasingly available on the used market.