Unless he is on the interstate constantly, why would he put a 5.3 which have no bottom end torque in a big heavy truck? An Olds 350, 403 or 455 with a 4L80E and adapter plate will get out of it's own way off the line. I would say a gear swap to 3.55 or 3.42's but a 4x4 makes that much harder.
So change the engine and the trans and the driveshafts because that's cost effective.
You'll hear no argument from me about the 5.3 having no bottom end. What it has is the ability to run high rpms for extended periods of time, allowing the retention of the rest of the drivetrain. The steep gears make for very little time spent at low rpm anyway.
Any of those Olds engines have a huge torque advantage over either the sbc or LS. It's all for nothing if you have to spin them to the moon as they tolerate that even less than a SBC.