I really was hoping to not be confusing, and I apologize if I wasn't clear. The OP stated that a cam swap is in the plans, and I am under the impression that all 4.8/5.3 engines have vvt.
I would absolutely keep it. Hell, I would add it if it didn't.
Run an electric water pump and you don't have to worry about the vvt timing cover working with your front accessory drive.
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DISCLAIMER: I don't know $#!+...
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