i don't believe so. the l33 had floating piston pins, where most 4.8's had pressed fit pins.
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I've got a set of floaters in the for sale section.
I've got a running high mileage 5.3 that I'm about to drop the bottom end out of to put 4.8 pistons in before I drop it into my C10. My heads are milled .045" and running a 220r cam. I'll be checking PTV for sure. Your .030" mill should be safe, but that all depends on your cam.