I fully support the LS platform. IF you can afford to rebuild the 5.7 then do it. If you want a very easy maintenance styled engine that brings the truck into a very healthy field of replacement parts I'd go LS. The platform just fits the truck so well. I just finished a friends 5.3 LM7 swap. We completely rebuilt the engine (bored, pistons, turned the crank, head job and threw in a LS1 cam out of a 96' Trans AM and all the needed gaskets, oil pump ect.). On the stock torque converter, 4l60e from the donor, PAC1218 valve springs for the cam, the truck absolutely rips. I've been questionable about LS swaps for awhile but to bring a vehicle into the LS playing field, this is one of the best platforms to do it on. You can see the build on my Face Book page @ Blaine's Automotive Performance & Restorations out of Portsmouth, VA (not dropping for business ads!, just for pictures on the build). Take a look at everything we did and I can assure you it was a well worthy project that has really turned out great. The truck seamlessly cruises up to 80 mph before you know it. I'll also be building my 96" K1500 step-side here in the near future for the L31 Whipple side mounted S/C because even I know the value of a traditional style build. Needless to say my buddies 96" is probably worth more than my nicer truck in the aftermarket right now due to the skyrocketing desire of LS swapped OBS trucks. Contact me here or at my business page for a step by step guide for the swap. BTW, we used the donor vehicle to part out and use all it's associated parts for the swap to bring the grand total build at right under $3K. This included the $750 in machine shop costs.