Picco generally makes good engines. I've owned several 26 "outlaws" which is an older engine series and they have been easy to tune, dependable, and I can still get parts for them.
I've never owned the 28, but have heard nothing but good things about this engine.
The only downside that I can say about any Picco is that they have a unique (smaller) exhaust port than other manufacturers, and you need to find a gasket that seals the exhaust port to header fit or you'll have a messy ride - and also lose some efficiency. They’re not difficult to find as I’ve had luck with the stock HPI gasket, but just something to keep in mind.
There are also headers specifically sized for Picco's too.
Scrogg is on the money how the right pipe will allow you to get a proper tune and help the engines reach their potential.
I've never owned an LRP, but I seem to recall that Olds here has 4 gallons on one. Which is quite a testimony. I know that a lot of that 4 gallons is due to proper care and feeding on his part, but it takes the right materials for an engine - specifically the piston/cylinder - to have that longevity.
Since you're already in the price range with the Cen, I'll throw out my engines of choice which are 28's by Novarossi or RB (which is a essentially a custom branded Novarossi).
Novarossi offers 3, 5, and 7 port 28's and they're powerful and reliable screamers.
http://www.novarossi.com/eng/home/index.php?brand=nova
http://www.rbproducts.com/mainEn.php?part=Products
Amain hobbies carries both brands -
http://www.amainhobbies.com/
Since both manufacturers make pull-start/roto-start and bump start models make sure you choose one of the former since bump starts don't work in a Savage.
Given everyone’s recommendations I think that you have some good engines to choose from. Have fun with whatever you choose!