Sieg, that article has been out for quite some time, and has changed many peoples minds of just how resilient the LS platform can actually be. I just read through it again, and I get a laugh out of the line that says "this 5.3 came to party" every time I read it. That little 4.8 was quite a conversation piece over on LS1Tech for a long time. Prolly still is...
We are closing in on 20 years of the LS being out (hard to believe)
It's a very strong performer, and for a guy looking for 500ish horsies, I wouldn't change anything in the bottom end, unless I was rebuilding it. You can buy forged pistons, for almost as cheap as the GM units, after rings and pins. Nothing wrong with the powdered metal rods at that power level. The stock crank is good to go also. As mentioned above, if your looking to build a race engine, that's different, but for a guy wanting 500ish horsies, to ride around with, get great fuel mileage, and be reliable as the day is long, throw a camshaft, springs, intake and headers at it and be done. I like the rocker arm trunnion upgrade also, but it's not necessary.
So when are you starting the conversion?