Welcome to Just Commodores, a site specifically designed for all people who share the same passion as yourself.
Some prefer the simplicity of the 5.0,others prefer the complexity of the 5.7.Either way,the 5.0 makes the right noises,where as the 5.7 makes the right readings.The choice is yours.
i would go for the 5.0 in the VT, the LS1 in the VTII have a knocking sound, a friend had his engine replaced 3 times, car had 30,000k's on 3rd change. But some people have no problems, guess its luck. The LS1 has the power, big difference from the 5.0 . Also LS1 with minor work on the engine, and your talking high 11's and 12's quarter mile!