[Accelo]

NOTE>>>>Apart from diameter, if you replace the balancer make absolutely sure the indexing of the keyway to the timing slot on the outer ring is the same on new balancer to the old one...there are different balancers !!!!!"

The 5.7 is a LS1, if I read this correct. No timing mark or even a key-way on the balancer. The timing is all from the reluctor wheel and only changeable via the software.

I would consider replacing the camshaft and leaving the rest stock. Of course their is the cam cost and lifters if you are smart. It's the easiest 40hp you will ever get.
That's with a stage I BTR Truck Camshaft. May get by without a tune but that's another $500 in my area. So a cam change it $1200. Maybe not that easy?

Be careful as this LQ9 has two different head bolt lengths. (2002 -2003 are different) This is a 345hp motor. The ls1 is a 350hp motor stock. You do gain torque. (380tq vers 350tq) That's why a camshaft would be recommended. Of course it a difficult choice when changing the cam could cost more than the motor! Good news is they both have the 24Tooth reluctor so computers are interchangeable for the most part.

I have a LS1 in my truck with 354 RWHP. BTR statge II.
The 6L should be 30hp more than the 5.7L everything else being the same.

Fun stuff.
Cheers