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it does have the 1.6:1 ratio but my flywheel has 178 teethShort answer.... yes!
Verify the following:
enough space for the longer 5.0L engine.
drive ratio...... (the 4.3L may have used the 1.61:1... if so, you can use that ratio w/ the 5.0L)
Keep in mind that after 1986, the SBC went to the later style crankshaft, of which means that the flywheel also changed.
Either way, you'll need the correct 153 tooth ring gear flywheel.
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1...... it does have the 1.6:1 ratio
2...... but my flywheel has 178 teeth