I would go with the 5.3 for sure. The LT motors had several achilles heels (Opti-spark being the main one). The LS based motors have coil on spark ignition and have more power potential due to the non-siamesed exhaust ports/head design. Although you will have to fab up a mounting system, as opposed to bolt in with the LT1, it will be worth it in the end.
just my 2c worth.....I have a 1994 Z28 and I have swapped in a 94 Z28 LT1/T56 into my 240Z, so I know the motors pretty intimately. I will admit that the LT1 wiring was very simple!
Tim
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1972 Suburban C20
454/TH700R4, eaton-corporate 4.10 (looking for 3.7)
Sold: 71 Cheyenne 20
Installed a 99 5.7L L31/4L60E from Suburban 1500 (2005)
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