5.3 LM7 - yay or nay?

[NC_John]

I'm checking out a 2001 5.3 LM7 tomorrow. 80K miles, still in truck, running.

I'm looking to build something (eventually up to) 400 or so HP. Maybe boost it later. Since I am swapping this into my '70, I'll have too much money in the swap right now to do much performance-wise immediately so a lot of the performance stuff will be added later.

I know the 2005 and later LS's have a few upgrades but if this one looks good, is complete and the price is right, is there any reason why I wouldn't want it?

I'm trying to research this as much as possible but its information overload and all the different LS configurations make it really confusing.

thanks