I bought a '07 Z71 Crew Cab in eastern Oklahoma from a local dealer the day before yesterday with 64,850 miles on it and left yesterday on my way home to Tennessee. I spent last night in Little Rock, AR and the truck ran fine from Tulsa to Little Rock. This morning I left to see some customers in Pine Bluff (40 miles) on my way home and made it halfway there when I heard a pop and my check engine light came on. I happened to be on the phone with my service manager at my local dealer talking about getting a couple of things checked out when I got home and asked him what he thought.
The truck immediately started missing and the oil pressure started dropping, so I limped into the local dealer in Pine Bluff and they checked the codes. P0300 and P05??... The lifters and valves were really noisy, but there was no smoke.
So, I am home in a loaner car from the dealership and they are tearing down the engine tomorrow. The service manager told me that they just finished replacing the engine in an identical situation this week-- Another '07 5.3L with the same symptoms and codes and same rattling noise came in and wound up having a spun cam bearing. The S05?? code was for oil pump failure, so I am guessing that the top end didn't get enough oil and spun the bearing... Any ideas???
Luckily, it is under warranty, so hopefully by this time next week I will reporting a much happier situation...

 

Sad to hear a 3 year old truck with 65k on it met such a horrible end. But on the bright side Congrats on getting a new motor.

 

Ditto, better to happen under warranty.