Tim - let us know exactly what you are after performance-wise for this engine. I remember having the stock cam in my LS5 when I first got the car, and it really ran out of breath by 4000 rpms. A slightly more aggressive cam, maybe just under 230 duration at .050, and about 520-535 lift will not affect low end torque a bit, and will give huge mid-range gains.
I also ran cast pistons for 22 years straight with that LS5, eventually getting in the 12s, with tons of 6000 rpm (and several accidental near 7000 rpm) passes with no issues. Call it luck, I dunno. Hypers are not bad, but I hear some manufacturers are better than others, so do your homework if you use them. Heck, GM puts Hypers in their 500+ hp Z06 Vettes.