Whilst I can't speak for the workload in other subjects, having done both English and Lit...
don't be fooled because this subject is considered the specialist mathematics of English.
^this.
Lit isn't impossible to do well in, but it is a lot more competitive in English. Only one of the SACs throughout the year is geared towards the exam, so you have to develop multiple skillsets concurrently which can get messy.
However, even though english is not my strongest subject (C average) I want to replace specialist with literature 3/4. My logic for this is that I want to do Bachelor of Arts majoring either philosophy, english or ancient history and all of these require good essay and analytical skills and so literature will help me in uni.
I can verify that Lit is a lot more helpful at uni than English, but it isn't a prereq for anything as far as I know (certainly not any general BAs) so you should always prioritise subjects you enjoy now over ones you think will be helpful later. Because what you want to do later might end up changing, and at least if you've done something enjoyable in VCE, that'll give you some foundation to build upon.
My question is do you guys think that I should do lit 3/4 as it will help me in the long run and cost me a few atar scores, or do something like further maths just to get an atar score that is good and not need it?
Most Arts courses don't stray too far above a 90 ATAR. If you think that's manageable for you, then do whatever you feel like. However, if you're prioritising a high ATAR, then it might pay to be a little more pragmatic about subject choices. English isn't conceptually difficult; once you understand the tasks and are able to finetune your work, it's pretty easy to score well. Lit (whilst most would argue is more fun) is a lot more fickle, and it's harder to know where you stand. Marks can fluctuate rapidly, texts can annoy to no end, and a shitty teacher can be the death of you.
If I do decide to do lit, do you guys think that if I try very hard in the 2 months holiday leading up to year 12, would I be able to be good a lit and eng ? By trying hard I mean one or more essays a day for 2 months straight and by good I mean from Ds to A or A+.
Improvement is always possible, but it won't happen just because you want it to. As I'm sure you'll see all around the forums:
study smart, not hard. Writing one or more essays a day isn't really a sustainable option. It won't guarantee an improvement in marks either, but it will guarantee you burning out. Lit in particular is very much an acquired skillset, not something you drill out over and over until you get it 'right.'
However...
Though there are some very valid reasons why Lit may not be your best option, I still maintain it's the best subject VCAA offers. If you enjoy reading and writing (and thinking) then Lit will give you a great opportunity to flourish. Often the people who do best in Lit have put aside issues of scaling or competition and are just enjoying their texts. There is a far greater allowance for creativity, thoughtfulness, and freedom of interpretation. If this sounds appealing, then Lit might be for you, but be warned, it's not for the faint of heart (a.k.a. those who believe 'aah, I can just churn out a couple of essays and rote-learn 'em during SWOT-VAC')
