Check over at and maybe become a member of GMT Nation for a lot of specific help from other GM owners. I got a lot of help with problems with my 94 GMC Suburban.
I'm not familiar enough with the newer computer driven engines to be able to help much with a 5.3 For my old weak compression (from the factory) 350, I added an adjustable timing control from MSD so I can run 15 degrees advanced, installed dual exhausts, a Fastchip upgraded computer chip, tune up with ONLY AC Delco parts (GM's don't like aftermarket parts), got rid of original restrictive air intake and added a second cold air intake with K & N air filter. All this made a BIG difference. The K1500 SLE came with trailer towing package so has oil cooler, tranny cooler, sway bars etc.