The 4.8 was the smaller of the v8s offered that year (the 4.3 was a v6). The 4.8 is basically identical to the 5.3 except it has a shorter stroke. Don't know that I've heard anything bad about them except they don't have the power the 5.3 does.
Thanks, didn't know they offered the 4.8 back then. I've never heard much bad about it. I know it's not a powerhouse, which is perfect for what you need. If it's as good as the 5.3 it will be a good choice.