Not even close. The Vortec 5700 out of the old C/K trucks is based on the original small block design. The Vortec 5.3 in the new GMT-800 trucks (Silverado/Sierra/Tahoe/Yukon/Escalade...) is based on the Generation III design.
However, there is a 5.7 in the new Corvettes and Camaro/Firebirds that is based on the Generation III architecture. They don't really go under the "Vortec" line. But the heads from those engines MIGHT be able to work on the new 5.3, but I'm not too sure on that.
Rob
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