1970 4x4 revival, LS questions should I go 5.3 or 6.0??

[1970BLZCST]

I'm getting ready to start my frame off revival of the 70 CST, its got a built 1968 327 in it now with a 4 speed and Dana 20, I bought this rig from a good friend and have never driven it, he started the tear down and then lost intrest and his job making the rebuild impossibile for him, ok I actually traded a 4 wheeler for it........back to my question this rig will be a weekend road driver only, not a mud truck I have available both 5.3 and 6.0's with 4L60E's attached to them, the 5.3 is 500 less than the 6.0, so for those of you who have done it what are the pros and cons of these engines and which one will work best for my needs, I'm planning on using the stock axels and would also need to find a transfer case to mate up with the 4L60.