The 5.3 is a fine engine, combined with the 4L80 tranny, it's a pulling and hauling machine.
It's a new spin on the old 327 short block, which has been a gm powerhouse for 60 years.
The problem came about when they tried to comply with idiotic EPA guidelines. Adding the Active Fuel Management technology, which blocks fuel flow to 4 of 8 cylinders in Overdrive.
Basically running 4 dead combustion chambers, which lead to burnt valves and stuck lifters.
I can provide first hand testimony, a stuck lifter will round off a cam lobe before you say "oh crap".
That was a $3,000 lesson learned and I immediately deleted the AFM (EFM) program.
That always irritated me anyway.