Re: 5.3 engine
As long as you didn't pay more than $3500 and the powertrain is in decent condition, I would keep it and use the vehicle as a donor. If you paid more than that, you'll have to do a bunch of parting out to get a good value because you can get a 5.3/4L60E dropout with that mileage or less for $3000 on from a few places.
From a convenience standpoint, it's a great vehicle to use as a donor. You have all of the parts you need and it's a complete vehicle. You could take out the engine and trans, change out the tailshaft, give the engine a tuneup, clean it up, or do any bolt on mods. You'll need the engine, trans, PCM, engine harness, air box and plenum, gas pedal, TAC module, TAC module harness, and battery cables.
While it's out of the vehicle, it's best to do the following:
-Clean everything
-Spark plugs
-Plug wires
-Replace knock sensors and harness
-Replace intake manifold gaskets
-Bolt on headers or camaro manifolds with new gaskets (and remove any broken manifold bolts)
-New water pump
-New power steering pump
-New idler pulley
-New tensioner pulley
-New serp belt
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