Is the 5.3 liter engine from chevrolet the same as the old 327?
No it is not. The current 5.3 liter engine is a modern state of the art fuel injected engine. The current 5.3 has no ancestry in the 327. The current 5.3 has very tightly machined tolerances. It utilizes a cast iron block and aluminum heads. The block and heads are shared with the 4.8 liter engine. The motor puts out 285-295 hp depending on what vehicle it is in and 325-300ft lbs of torque. A new version of the 5.3 debuted in the Trailblazer, Envoy, Rainier, and Saab 9-7X for the 2005 model year and in the Monte Carlo and Impala for the 2006 model year, this new version has Displacement on Demand technology which allows the engine to shut of 2 or 4 cylinders depending on load in order to save fuel. The new Impala and Monte Carlos with this engine can get 28mpg highway! This version also puts out 300-303 depending on what vehicle it is in.