You'll spend $400+ on better injectors and a new regulator, just FYI.
The engines are decently strong and don't give horrible mileage, but it's still a big block, you'll be gassing up all the time.
Same crappy plastic distributor as the Vortec 5.7 and they do wear out and need replacing.
The rockers are non-adjustable so once they wear enough to start ticking, you're replacing them altogether. I suggest upgrading to roller tip, adjustable, which requires replacing the bolts with special conversion studs. The downside here is the pushrod guide plates won't fit larger stock type pushrods, but if you change out to regular style pushrod guide plates, you then discover the locating holes in them are too large for the conversion studs so they won't position correctly. There are some plates out there with the correct smaller hole, just gotta get all your stuff in order before you tear into it.
Richard